Equity Residential (NYSE:EQR) Given Consensus Rating of “Hold” by Analysts

Shares of Equity Residential (NYSE:EQRGet Rating) have received an average recommendation of “Hold” from the twenty research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $77.56.

EQR has been the topic of several research reports. UBS Group raised their price objective on shares of Equity Residential from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Equity Residential from $85.00 to $73.00 and set a “hold” rating on the stock in a research report on Tuesday, October 4th. StockNews.com initiated coverage on shares of Equity Residential in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. The Goldman Sachs Group lowered their price objective on shares of Equity Residential from $86.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 18th. Finally, Piper Sandler lowered their price objective on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating on the stock in a research report on Friday, October 7th.

Equity Residential Stock Performance

Equity Residential stock opened at $62.51 on Friday. The firm’s fifty day moving average price is $64.52 and its 200-day moving average price is $70.97. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market cap of $23.62 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.72 and a beta of 0.77. Equity Residential has a fifty-two week low of $59.32 and a fifty-two week high of $94.32.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Monday, September 26th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Friday, September 23rd. Equity Residential’s payout ratio is 82.24%.

Hedge Funds Weigh In On Equity Residential

A number of hedge funds have recently modified their holdings of EQR. Bank of America Corp DE increased its position in shares of Equity Residential by 18.8% in the first quarter. Bank of America Corp DE now owns 13,792,116 shares of the real estate investment trust’s stock valued at $1,240,187,000 after acquiring an additional 2,181,925 shares during the period. Blackstone Inc. boosted its stake in shares of Equity Residential by 323.0% during the 1st quarter. Blackstone Inc. now owns 2,825,468 shares of the real estate investment trust’s stock valued at $254,066,000 after purchasing an additional 2,157,468 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Equity Residential by 369.7% during the 2nd quarter. Principal Financial Group Inc. now owns 2,025,015 shares of the real estate investment trust’s stock valued at $146,246,000 after purchasing an additional 1,593,884 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Equity Residential by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 57,697,368 shares of the real estate investment trust’s stock valued at $5,188,147,000 after purchasing an additional 1,408,032 shares in the last quarter. Finally, Long Pond Capital LP bought a new stake in shares of Equity Residential during the 2nd quarter valued at about $73,962,000. Hedge funds and other institutional investors own 83.92% of the company’s stock.

About Equity Residential

(Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Analyst Recommendations for Equity Residential (NYSE:EQR)

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