Kentucky Retirement Systems Insurance Trust Fund Sells 1,022 Shares of Equity Residential (NYSE:EQR)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in Equity Residential (NYSE:EQR) by 9.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,101 shares of the real estate investment trust’s stock after selling 1,022 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Equity Residential were worth $752,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Maryland Capital Advisors Inc. purchased a new stake in Equity Residential in the third quarter worth $25,000. Assetmark Inc. raised its holdings in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 195 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its position in shares of Equity Residential by 146.6% during the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 327 shares during the period. 92.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on EQR shares. BNP Paribas assumed coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price objective for the company. The Goldman Sachs Group started coverage on Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target on the stock. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the stock from $77.75 to $81.50 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada reduced their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Equity Residential currently has a consensus rating of “Hold” and an average price target of $77.25.

Equity Residential Stock Up 1.1 %

EQR stock opened at $74.42 on Tuesday. The stock has a market capitalization of $28.24 billion, a P/E ratio of 30.50, a P/E/G ratio of 5.98 and a beta of 0.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a 1-year low of $54.70 and a 1-year high of $78.83. The business has a fifty day moving average price of $74.31 and a 200-day moving average price of $70.86.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

Equity Residential Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.