Equity Residential (NYSE:EQR) Hits New 12-Month High at $71.42

Equity Residential (NYSE:EQR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $71.42 and last traded at $71.35, with a volume of 346903 shares. The stock had previously closed at $70.77.

Analysts Set New Price Targets

Several research firms have commented on EQR. JPMorgan Chase & Co. lifted their target price on shares of Equity Residential from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. Wedbush restated a “neutral” rating and set a $68.00 price target on shares of Equity Residential in a research note on Monday, April 29th. Piper Sandler upgraded shares of Equity Residential from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $80.00 in a research note on Friday, June 28th. UBS Group raised their price target on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, BMO Capital Markets upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $68.00 to $70.00 in a research note on Monday, April 22nd. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.53.

Equity Residential Price Performance

The firm has a market capitalization of $27.06 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 4.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.23 and a current ratio of 0.23. The business’s 50 day moving average is $67.39 and its two-hundred day moving average is $63.94.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.79%. The ex-dividend date was Monday, July 1st. Equity Residential’s payout ratio is 112.03%.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the completion of the transaction, the chief financial officer now directly owns 14,576 shares of the company’s stock, valued at approximately $1,006,910.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EQR. Fidelis Capital Partners LLC bought a new stake in shares of Equity Residential during the 1st quarter worth $27,000. Allworth Financial LP lifted its holdings in shares of Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 267 shares during the last quarter. Voisard Asset Management Group Inc. bought a new stake in shares of Equity Residential during the 4th quarter worth $33,000. AdvisorNet Financial Inc bought a new stake in shares of Equity Residential during the 4th quarter worth $34,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 155 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

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.