Kentucky Retirement Systems Lowers Stock Position in Equity Residential (NYSE:EQR)

Kentucky Retirement Systems reduced its stake in Equity Residential (NYSE:EQR) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,445 shares of the real estate investment trust’s stock after selling 323 shares during the quarter. Kentucky Retirement Systems’ holdings in Equity Residential were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of EQR. Wilmington Savings Fund Society FSB purchased a new stake in Equity Residential in the third quarter valued at approximately $29,000. Assetmark Inc. raised its stake in Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Equity Residential in the third quarter valued at approximately $33,000. Continuum Advisory LLC purchased a new stake in Equity Residential in the third quarter valued at approximately $40,000. Finally, Grove Bank & Trust raised its stake in Equity Residential by 208.1% in the fourth quarter. Grove Bank & Trust now owns 610 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 412 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Barclays decreased their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Mizuho decreased their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company decreased their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Finally, Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a research note on Tuesday, February 4th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus target price of $78.46.

Insider Activity at Equity Residential

In related news, CAO Ian Kaufman sold 642 shares of Equity Residential stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares in the company, valued at $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Fenster sold 5,340 shares of Equity Residential stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the sale, the executive vice president now owns 35,507 shares in the company, valued at approximately $2,558,634.42. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,763 shares of company stock worth $1,424,217 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Equity Residential Stock Down 0.1 %

Shares of Equity Residential stock opened at $71.56 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. Equity Residential has a 52-week low of $58.81 and a 52-week high of $78.83. The stock has a market capitalization of $27.17 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 3.99 and a beta of 0.93. The company’s 50 day moving average price is $70.44 and its 200-day moving average price is $72.79.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential’s dividend payout ratio (DPR) is currently 99.26%.

Equity Residential Company 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.