Equity Residential (NYSE:EQR) Receives $77.25 Average Price Target from Brokerages

Equity Residential (NYSE:EQR) has been assigned a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $77.25.

Several equities analysts have weighed in on EQR shares. Stifel Nicolaus upgraded Equity Residential from a “hold” rating to a “buy” rating and raised their price target for the company from $77.75 to $81.50 in a report on Wednesday, November 13th. Bank of America cut Equity Residential from a “buy” rating to a “neutral” rating and raised their price target for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Evercore ISI raised their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. BNP Paribas assumed coverage on Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target for the company. Finally, Scotiabank dropped their target price on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th.

Equity Residential Stock Performance

NYSE EQR opened at $75.79 on Tuesday. The stock has a market capitalization of $28.76 billion, a PE ratio of 31.06, a P/E/G ratio of 6.09 and a beta of 0.90. The business has a 50 day simple moving average of $74.12 and a two-hundred day simple moving average of $71.07. 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 1-year low of $56.05 and a 1-year high of $78.83.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

Institutional Investors Weigh In On Equity Residential

Institutional investors and hedge funds have recently bought and sold shares of the company. Maryland Capital Advisors Inc. bought a new stake in Equity Residential during the 3rd quarter valued at $25,000. Assetmark Inc. raised 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 worth $33,000 after acquiring an additional 430 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Equity Residential in the 3rd quarter worth $33,000. UMB Bank n.a. raised its position in shares of 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 worth $35,000 after acquiring an additional 195 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Equity Residential by 41.9% in 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 in 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.