Equity Residential (NYSE:EQR) Given Average Recommendation of “Hold” by Brokerages

Shares of Equity Residential (NYSE:EQR) have received an average rating of “Hold” from the nineteen brokerages that are covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $77.25.

EQR has been the topic of a number of recent analyst reports. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $78.00 to $82.00 in a research note on Tuesday, September 24th. Royal Bank of Canada decreased their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Evercore ISI boosted their target price on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank decreased 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 note on Thursday, November 14th. Finally, Truist Financial boosted their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

Equity Residential Stock Up 0.8 %

Shares of EQR opened at $76.41 on Tuesday. The company has a market capitalization of $28.99 billion, a P/E ratio of 31.32, a PEG ratio of 6.15 and a beta of 0.90. Equity Residential has a one year low of $56.05 and a one year high of $78.83. The business’s 50 day simple moving average is $74.09 and its 200-day simple moving average is $71.17. 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 Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is presently 110.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tobam lifted its holdings in shares of Equity Residential by 8.6% during the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 152 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Equity Residential by 4.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 153 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 155 shares during the period. UMB Bank n.a. increased its position in shares of Equity Residential by 69.6% during the third 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, Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 worth $56,000 after acquiring an additional 200 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

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.