Shares of Equity Residential (NYSE:EQR) were down 2% during mid-day trading on Wednesday . The company traded as low as $65.79 and last traded at $65.90, with a volume of 2,085,911 shares traded. The stock had previously closed at $67.27.

A number of analysts have recently issued reports on EQR shares. Capital One Financial Corp. raised shares of Equity Residential from an “equal weight” rating to an “overweight” rating in a report on Thursday, April 21st. Zelman & Associates downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. BMO Capital Markets reaffirmed a “buy” rating on shares of Equity Residential in a report on Wednesday, June 1st. Jefferies Group reaffirmed a “hold” rating on shares of Equity Residential in a report on Wednesday, July 6th. Finally, Citigroup Inc. dropped their price objective on shares of Equity Residential from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $74.76.

The firm has a market cap of $24.13 billion and a price-to-earnings ratio of 5.76. The firm has a 50 day moving average price of $68.34 and a 200 day moving average price of $70.75.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.02. The business had revenue of $595.20 million for the quarter, compared to analyst estimates of $609.82 million. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. On average, equities analysts expect that Equity Residential will post $3.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, June 27th were given a dividend of $0.5038 per share. The ex-dividend date was Thursday, June 23rd. This represents a $2.02 annualized dividend and a yield of 3.05%.

A number of institutional investors have added to or reduced their stakes in EQR. Dimensional Fund Advisors LP raised its position in Equity Residential by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,517,927 shares of the real estate investment trust’s stock valued at $368,619,000 after buying an additional 160,496 shares during the period. Eaton Vance Management raised its stake in Equity Residential by 19.3% in the fourth quarter. Eaton Vance Management now owns 2,983,858 shares of the real estate investment trust’s stock valued at $243,453,000 after buying an additional 482,964 shares during the period. Wells Fargo & Company MN raised its stake in Equity Residential by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 503,429 shares of the real estate investment trust’s stock valued at $41,074,000 after buying an additional 3,842 shares during the period. Employees Retirement System of Texas raised its stake in Equity Residential by 8.0% in the fourth quarter. Employees Retirement System of Texas now owns 348,000 shares of the real estate investment trust’s stock valued at $28,393,000 after buying an additional 25,800 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in Equity Residential by 1.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 334,700 shares of the real estate investment trust’s stock valued at $27,308,000 after buying an additional 4,500 shares during the period.

Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.

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