Equity Residential (NYSE:EQR) Given Consensus Rating of “Moderate Buy” by Brokerages

Equity Residential (NYSE:EQR) has earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $78.51.

A number of research firms recently weighed in on EQR. Wells Fargo & Company dropped their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Scotiabank boosted their price objective on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Truist Financial increased their target price on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Mizuho reduced their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th.

Equity Residential Price Performance

Shares of NYSE EQR opened at $71.38 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average price is $70.95 and its two-hundred day moving average price is $72.47. The company has a market cap of $27.10 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. Equity Residential has a twelve month low of $59.48 and a twelve month high of $78.84.

Equity Residential Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.6925 per share. This represents a $2.77 dividend on an annualized basis and a yield of 3.88%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, March 31st. Equity Residential’s payout ratio is presently 101.84%.

Insider Activity

In related news, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the completion of the transaction, the chief operating officer now owns 26,781 shares of the company’s stock, valued at $1,930,106.67. This trade represents a 26.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ian Kaufman sold 642 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the sale, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,763 shares of company stock valued at $1,424,217. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Equity Residential

Institutional investors and hedge funds have recently modified their holdings of the business. SRS Capital Advisors Inc. raised its stake in Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 310 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Equity Residential during the third quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new position in shares of Equity Residential during the third quarter worth approximately $33,000. Continuum Advisory LLC bought a new position in shares of Equity Residential in the 3rd quarter worth $40,000. Finally, Smartleaf Asset Management LLC grew its position in Equity Residential by 38.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 156 shares during the period. 92.68% of the stock is currently owned by institutional investors.

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.