Equity Residential (NYSE:EQR) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Equity Residential (NYSE:EQR) have been assigned a consensus recommendation of “Hold” from the twenty-three analysts that are covering the stock, Marketbeat reports. Fourteen investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $71.40.

Several analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Equity Residential from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Wells Fargo & Company upped their price target on Equity Residential from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group decreased their price target on Equity Residential from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. JPMorgan Chase & Co. raised their price target on Equity Residential from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Finally, Piper Sandler lifted their price objective on Equity Residential from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st.

Equity Residential Price Performance

Shares of EQR opened at $67.80 on Thursday. The firm has a 50-day simple moving average of $67.57 and a two-hundred day simple moving average of $64.32. The stock has a market cap of $25.42 billion, a PE ratio of 29.48, a P/E/G ratio of 5.38 and a beta of 0.73. Equity Residential has a 1-year low of $57.57 and a 1-year high of $71.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.19 and a quick ratio of 0.19.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were given a $0.7025 dividend. This represents a $2.81 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, June 29th. Equity Residential’s payout ratio is currently 122.17%.

Institutional Trading of Equity Residential

Institutional investors and hedge funds have recently bought and sold shares of the business. Fulcrum Asset Management LLP purchased a new position in shares of Equity Residential in the third quarter valued at approximately $27,000. Zions Bancorporation National Association UT increased its stake in Equity Residential by 375.2% during the 4th quarter. Zions Bancorporation National Association UT now owns 480 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 379 shares during the period. DV Equities LLC acquired a new stake in Equity Residential during the 4th quarter worth approximately $30,000. Harvest Fund Management Co. Ltd acquired a new stake in Equity Residential during the 3rd quarter worth approximately $31,000. Finally, Leonteq Securities AG boosted its position in Equity Residential by 48.8% in the 1st quarter. Leonteq Securities AG now owns 549 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 180 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

About Equity Residential

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.