State Board of Administration of Florida Retirement System Grows Holdings in Equity Residential $EQR

State Board of Administration of Florida Retirement System boosted its position in Equity Residential (NYSE:EQR) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 406,132 shares of the real estate investment trust’s stock after acquiring an additional 3,277 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Equity Residential were worth $27,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Equity Residential by 11.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 845,820 shares of the real estate investment trust’s stock worth $60,544,000 after purchasing an additional 83,788 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Equity Residential by 9.0% during the first quarter. PNC Financial Services Group Inc. now owns 54,271 shares of the real estate investment trust’s stock valued at $3,885,000 after purchasing an additional 4,499 shares in the last quarter. Aberdeen Group plc grew its holdings in Equity Residential by 9.3% during the second quarter. Aberdeen Group plc now owns 422,260 shares of the real estate investment trust’s stock valued at $28,498,000 after purchasing an additional 36,047 shares during the period. Andra AP fonden increased its position in Equity Residential by 30.3% in the second quarter. Andra AP fonden now owns 187,100 shares of the real estate investment trust’s stock worth $12,627,000 after buying an additional 43,500 shares in the last quarter. Finally, FORA Capital LLC bought a new position in shares of Equity Residential in the first quarter worth about $517,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Trading Up 0.3%

Shares of Equity Residential stock opened at $61.75 on Friday. Equity Residential has a twelve month low of $58.38 and a twelve month high of $77.75. The company has a quick ratio of 0.17, a current ratio of 0.45 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $61.65 and a 200-day moving average price of $64.97. The firm has a market cap of $23.49 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.99 and a beta of 0.88.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.02 EPS for the quarter, hitting analysts’ consensus estimates of $1.02. The company had revenue of $782.41 million for the quarter, compared to the consensus estimate of $779.68 million. Equity Residential had a return on equity of 10.30% and a net margin of 37.58%.During the same period in the previous year, the business earned $0.98 earnings per share. Equity Residential has set its Q4 2025 guidance at 1.020-1.060 EPS. FY 2025 guidance at 3.980-4.020 EPS. Equities research analysts anticipate that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, September 25th were given a dividend of $0.6925 per share. The ex-dividend date was Thursday, September 25th. This represents a $2.77 dividend on an annualized basis and a yield of 4.5%. Equity Residential’s payout ratio is 91.42%.

Analyst Ratings Changes

EQR has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Equity Residential from $76.00 to $75.00 in a research note on Tuesday, September 16th. Scotiabank lowered their price target on shares of Equity Residential from $73.00 to $66.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. BNP Paribas Exane cut shares of Equity Residential from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. Royal Bank Of Canada lowered their target price on shares of Equity Residential from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Finally, Cantor Fitzgerald started coverage on shares of Equity Residential in a report on Wednesday, October 1st. They issued an “overweight” rating and a $70.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Equity Residential has an average rating of “Hold” and an average price target of $70.27.

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.