Equity Residential (NYSE:EQR) Receives $78.36 Average PT from Brokerages

Equity Residential (NYSE:EQR) has been assigned a consensus rating of “Hold” from the nineteen research firms that are currently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $78.36.

Several brokerages recently weighed in on EQR. Royal Bank of Canada cut their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho cut their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price objective for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. Barclays cut their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, Scotiabank decreased their price target on 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.

Institutional Investors Weigh In On Equity Residential

A number of institutional investors have recently added to or reduced their stakes in EQR. Maryland Capital Advisors Inc. bought a new stake in shares of Equity Residential in the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new position in Equity Residential in the third quarter worth $29,000. Assetmark Inc. lifted its position 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 worth $33,000 after purchasing an additional 430 shares during the period. Brooklyn Investment Group acquired a new stake in Equity Residential during the third quarter worth $33,000. Finally, UMB Bank n.a. increased its holdings in Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 195 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Stock Up 0.6 %

EQR opened at $70.72 on Friday. The company has a market capitalization of $26.83 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 4.35 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a fifty-two week low of $57.33 and a fifty-two week high of $78.83. The business has a 50-day moving average of $71.37 and a 200-day moving average of $72.71.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential’s dividend payout ratio is currently 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.