Equity Residential (NYSE:EQR) Receives $77.25 Consensus PT from Analysts

Equity Residential (NYSE:EQR) has received an average rating of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $77.25.

A number of equities analysts have commented on EQR shares. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. Evercore ISI upped their target price on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank reduced their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $83.00 in a research note on Tuesday, September 10th.

Institutional Trading of Equity Residential

Several large investors have recently modified their holdings of the company. Unigestion Holding SA bought a new position in shares of Equity Residential during the 3rd quarter worth about $483,000. Soltis Investment Advisors LLC acquired a new stake in shares of Equity Residential during the 3rd quarter worth approximately $3,226,000. Toronto Dominion Bank grew its position in shares of Equity Residential by 0.5% during the 3rd quarter. Toronto Dominion Bank now owns 169,906 shares of the real estate investment trust’s stock worth $12,651,000 after buying an additional 795 shares during the period. Coldstream Capital Management Inc. boosted its stake in Equity Residential by 1,737.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 61,538 shares of the real estate investment trust’s stock worth $4,582,000 after acquiring an additional 58,188 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Equity Residential by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust’s stock valued at $694,441,000 after buying an additional 132,638 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Stock Performance

Shares of EQR stock opened at $75.18 on Tuesday. Equity Residential has a 12 month low of $56.05 and a 12 month high of $78.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $28.53 billion, a P/E ratio of 30.81, a P/E/G ratio of 6.06 and a beta of 0.90. The company’s fifty day moving average price is $74.16 and its two-hundred day moving average price is $70.97.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a dividend of $0.675 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.59%. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

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.