Equity Residential (NYSE:EQR) Upgraded at StockNews.com

StockNews.com upgraded shares of Equity Residential (NYSE:EQR) from a sell rating to a hold rating in a report released on Monday.

A number of other equities research analysts have also recently commented on EQR. JPMorgan Chase & Co. increased their target price on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Scotiabank dropped their price objective on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Evercore ISI upped their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Finally, Barclays initiated coverage on Equity Residential in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $83.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $78.69.

Equity Residential Stock Up 3.4 %

Shares of NYSE EQR opened at $69.24 on Monday. The firm’s 50-day moving average is $72.64 and its two-hundred day moving average is $72.57. The company has a market capitalization of $26.27 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 5.94 and a beta of 0.93. Equity Residential has a 12-month low of $57.33 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.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be paid a $0.675 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.70 annualized dividend and a dividend yield of 3.90%. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

Institutional Investors Weigh In On Equity Residential

A number of large investors have recently added to or reduced their stakes in EQR. Canada Pension Plan Investment Board boosted its position in Equity Residential by 1.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock valued at $346,794,000 after buying an additional 60,000 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Equity Residential in the third quarter worth about $923,000. Public Sector Pension Investment Board boosted its holdings in Equity Residential by 18.7% in the second quarter. Public Sector Pension Investment Board now owns 47,997 shares of the real estate investment trust’s stock valued at $3,328,000 after purchasing an additional 7,549 shares during the last quarter. Tidal Investments LLC grew its stake in Equity Residential by 12.3% during the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock valued at $9,625,000 after purchasing an additional 14,109 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Equity Residential by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock worth $298,461,000 after purchasing an additional 124,795 shares during the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Company Profile

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.