Equity Residential (NYSE:EQR) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in Equity Residential (NYSE:EQR) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 766,894 shares of the real estate investment trust’s stock after buying an additional 9,247 shares during the period. California Public Employees Retirement System’s holdings in Equity Residential were worth $55,032,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vert Asset Management LLC boosted its stake in Equity Residential by 7.5% in the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust’s stock worth $10,782,000 after purchasing an additional 10,472 shares in the last quarter. Mission Wealth Management LP acquired a new position in Equity Residential during the 4th quarter valued at approximately $321,000. Benjamin Edwards Inc. purchased a new position in shares of Equity Residential in the third quarter worth $923,000. Atomi Financial Group Inc. lifted its stake in shares of Equity Residential by 8.3% during the fourth quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 284 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Equity Residential by 119.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust’s stock valued at $34,714,000 after buying an additional 263,622 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

NYSE:EQR opened at $71.26 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84. The stock’s 50-day moving average price is $71.01 and its 200-day moving average price is $72.38. The stock has a market capitalization of $27.06 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a $0.6925 dividend. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Monday, March 31st. Equity Residential’s dividend payout ratio (DPR) is presently 101.84%.

Insider Activity

In related news, EVP Scott Fenster sold 5,340 shares of Equity Residential stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $384,800.40. Following the sale, the executive vice president now directly owns 35,507 shares in the company, valued at approximately $2,558,634.42. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total value of $683,728.09. Following the transaction, the chief operating officer now directly owns 26,781 shares of the company’s stock, valued at $1,930,106.67. The trade was a 26.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock worth $1,424,217 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQR shares. StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Mizuho reduced their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Scotiabank lifted their target price on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a report on Tuesday, February 4th. Finally, Evercore ISI lifted their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential has a consensus rating of “Hold” and a consensus price target of $78.51.

About Equity Residential

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.