Equity Residential (NYSE:EQR) Receives $78.69 Average PT from Analysts

Shares of Equity Residential (NYSE:EQR) have been given a consensus rating of “Hold” by the nineteen ratings firms that are currently covering the company, MarketBeat reports. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $78.69.

Several brokerages recently issued reports on EQR. StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a report on Monday. Barclays initiated coverage on Equity Residential in a research note on Tuesday, December 17th. They set an “overweight” rating and a $83.00 price target for the company. Bank of America cut shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price objective for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Mizuho cut their target price 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, Scotiabank lowered their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th.

Equity Residential Price Performance

EQR stock opened at $69.98 on Wednesday. The firm has a 50 day moving average of $72.60 and a 200-day moving average of $72.57. The company has a market cap of $26.55 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 5.94 and a beta of 0.93. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.86%. Equity Residential’s payout ratio is currently 110.66%.

Institutional Investors Weigh In On Equity Residential

Institutional investors have recently bought and sold shares of the stock. AdvisorNet Financial Inc boosted its holdings in shares of Equity Residential by 25.3% in the 4th quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 146 shares during the last quarter. Tobam raised its position in shares of Equity Residential by 8.6% in the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 152 shares during the period. UMB Bank n.a. boosted its holdings in Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 195 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 200 shares during the period. Finally, Modera Wealth Management LLC increased its stake in Equity Residential by 6.5% during the third quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 200 shares during the last quarter. 92.68% of the stock is currently owned by hedge funds and other 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.