Truist Financial Issues Positive Forecast for Equity Residential (NYSE:EQR) Stock Price

Equity Residential (NYSE:EQR) had its target price upped by Truist Financial from $76.00 to $78.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

EQR has been the topic of a number of other reports. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research report on Tuesday, February 4th. StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Barclays cut their target price on 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 lowered their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. 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 report on Monday, February 10th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and an average price target of $78.51.

Equity Residential Trading Down 1.5 %

NYSE EQR opened at $70.88 on Monday. 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 one year low of $59.48 and a one year high of $78.84. The company has a 50-day simple moving average of $70.73 and a 200-day simple moving average of $72.93. The firm has a market capitalization of $26.91 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Thursday, January 2nd. Equity Residential’s dividend payout ratio is presently 99.26%.

Insider Activity at Equity Residential

In related news, CAO Ian Kaufman sold 642 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the sale, the chief accounting officer now directly owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Garechana sold 4,294 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $309,425.64. Following the sale, the chief financial officer now owns 14,108 shares of the company’s stock, valued at $1,016,622.48. The trade was a 23.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock valued at $1,424,217 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equity Residential

Institutional investors and hedge funds have recently modified their holdings of the stock. SRS Capital Advisors Inc. increased its stake in Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Equity Residential in the third quarter worth approximately $29,000. Assetmark Inc. lifted its position in shares of Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 430 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Equity Residential in the 3rd quarter valued at approximately $33,000. Finally, Continuum Advisory LLC acquired a new position in Equity Residential in the 3rd quarter worth approximately $40,000. 92.68% of the stock is owned by institutional investors and hedge funds.

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.