Shares of Equity Residential (NYSE:EQR) have been assigned a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $69.86.

A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Argus boosted their target price on Equity Residential to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. BMO Capital Markets restated a “hold” rating and issued a $69.00 target price on shares of Equity Residential in a research report on Tuesday, January 29th. Mizuho downgraded Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 target price for the company. in a research report on Wednesday, January 23rd. Finally, Barclays restated a “hold” rating and issued a $65.00 target price on shares of Equity Residential in a research report on Wednesday, January 23rd.

In other news, EVP Alan W. George sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $73.56, for a total transaction of $1,839,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David J. Neithercut sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $74.52, for a total value of $3,726,000.00. The disclosure for this sale can be found here. Insiders have sold 220,195 shares of company stock worth $16,160,775 over the last three months. Insiders own 3.75% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Equity Residential by 5.8% during the fourth quarter. BlackRock Inc. now owns 41,246,537 shares of the real estate investment trust’s stock valued at $2,722,686,000 after buying an additional 2,256,566 shares during the period. Norges Bank purchased a new position in shares of Equity Residential during the fourth quarter valued at approximately $1,249,322,000. Northern Trust Corp increased its stake in shares of Equity Residential by 5.1% during the fourth quarter. Northern Trust Corp now owns 6,741,740 shares of the real estate investment trust’s stock valued at $445,022,000 after buying an additional 324,960 shares during the period. Geode Capital Management LLC increased its stake in shares of Equity Residential by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 6,088,423 shares of the real estate investment trust’s stock valued at $401,342,000 after buying an additional 501,797 shares during the period. Finally, Morgan Stanley boosted its position in shares of Equity Residential by 17.4% during the third quarter. Morgan Stanley now owns 6,086,929 shares of the real estate investment trust’s stock valued at $403,319,000 after purchasing an additional 901,037 shares in the last quarter. 87.63% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:EQR traded down $0.30 during mid-day trading on Friday, reaching $74.76. The stock had a trading volume of 2,415,971 shares, compared to its average volume of 1,609,680. The company has a market capitalization of $27.66 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 3.74 and a beta of 0.59. Equity Residential has a one year low of $57.96 and a one year high of $75.65. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.29 and a quick ratio of 0.29.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.54). The firm had revenue of $652.55 million during the quarter, compared to the consensus estimate of $652.35 million. Equity Residential had a return on equity of 6.31% and a net margin of 25.50%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. As a group, sell-side analysts anticipate that Equity Residential will post 3.4 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Monday, March 25th will be paid a dividend of $0.5675 per share. The ex-dividend date of this dividend is Friday, March 22nd. This is a boost from Equity Residential’s previous quarterly dividend of $0.54. This represents a $2.27 annualized dividend and a dividend yield of 3.04%. Equity Residential’s payout ratio is 66.46%.

Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily 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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