Municipal Employees Retirement System of Michigan Purchases Shares of 9,760 Equity Residential (EQR)

Municipal Employees Retirement System of Michigan bought a new position in Equity Residential (NYSE:EQR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,760 shares of the real estate investment trust’s stock, valued at approximately $644,000.

Other large investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its stake in Equity Residential by 6,420.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,632,545 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 2,592,169 shares in the last quarter. BlackRock Inc. lifted its stake in Equity Residential by 5.8% during the 4th quarter. BlackRock Inc. now owns 41,246,537 shares of the real estate investment trust’s stock valued at $2,722,686,000 after acquiring an additional 2,256,566 shares during the period. Barings LLC bought a new position in Equity Residential during the 4th quarter valued at about $74,003,000. Morgan Stanley increased its position in shares of Equity Residential by 17.4% during the 3rd quarter. Morgan Stanley now owns 6,086,929 shares of the real estate investment trust’s stock valued at $403,319,000 after purchasing an additional 901,037 shares during the last quarter. Finally, Resolution Capital Ltd increased its position in shares of Equity Residential by 22.7% during the 4th quarter. Resolution Capital Ltd now owns 4,340,945 shares of the real estate investment trust’s stock valued at $286,546,000 after purchasing an additional 801,666 shares during the last quarter. 92.38% of the stock is currently owned by hedge funds and other institutional investors.

EQR has been the subject of several research reports. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Raymond James raised shares of Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 price target for the company in a research report on Thursday, April 11th. BMO Capital Markets reissued a “hold” rating and issued a $78.00 target price on shares of Equity Residential in a report on Monday, March 25th. Mizuho lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 target price for the company. in a report on Wednesday, January 23rd. Finally, Barclays reissued a “hold” rating and issued a $65.00 target price on shares of Equity Residential in a report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $72.48.

Shares of NYSE EQR traded up $0.51 during midday trading on Wednesday, reaching $75.47. 1,168,335 shares of the stock traded hands, compared to its average volume of 1,522,760. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $27.53 billion, a P/E ratio of 23.22, a P/E/G ratio of 3.72 and a beta of 0.59. Equity Residential has a one year low of $59.29 and a one year high of $77.64.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.54). The firm had revenue of $652.55 million for the quarter, compared to the consensus estimate of $652.35 million. Equity Residential had a net margin of 25.50% and a return on equity of 6.31%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. As a group, equities analysts predict that Equity Residential will post 3.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were given a $0.5675 dividend. The ex-dividend date was Friday, March 22nd. This is an increase from Equity Residential’s previous quarterly dividend of $0.54. This represents a $2.27 dividend on an annualized basis and a yield of 3.01%. Equity Residential’s dividend payout ratio (DPR) is currently 69.85%.

In other news, insider Alan W. George sold 23,993 shares of Equity Residential stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $74.76, for a total transaction of $1,793,716.68. Following the completion of the sale, the insider now directly owns 70,575 shares in the company, valued at $5,276,187. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gerald A. Spector sold 12,938 shares of Equity Residential stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $75.00, for a total value of $970,350.00. Following the sale, the insider now owns 290,065 shares of the company’s stock, valued at $21,754,875. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,803 shares of company stock valued at $19,724,549. 3.75% of the stock is owned by corporate insiders.

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Equity Residential Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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