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

Shares of Equity Residential (NYSE:EQR) have earned an average rating of “Hold” from the nineteen analysts that are presently covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $77.25.

Several equities analysts recently issued reports on the company. Bank of America cut Equity Residential from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Scotiabank decreased their price objective 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. Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Finally, Piper Sandler increased their price target on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st.

Equity Residential Trading Up 1.1 %

Shares of EQR opened at $74.42 on Tuesday. The firm’s 50-day moving average is $74.31 and its two-hundred day moving average is $70.86. Equity Residential has a twelve month low of $54.70 and a twelve month high of $78.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $28.24 billion, a P/E ratio of 30.50, a PEG ratio of 5.98 and a beta of 0.90.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders 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 3.63%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

Institutional Investors Weigh In On Equity Residential

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in shares of Equity Residential by 482.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after purchasing an additional 5,925,177 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Equity Residential by 806.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock valued at $317,136,000 after acquiring an additional 3,789,234 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Equity Residential by 1,459.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock valued at $145,158,000 after acquiring an additional 1,824,494 shares during the period. FMR LLC increased its stake in Equity Residential by 29.0% during the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock worth $576,804,000 after acquiring an additional 1,741,840 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Equity Residential by 679.0% in the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock worth $40,528,000 after purchasing an additional 518,424 shares during the period. 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.