Equity Residential (NYSE:EQR) Trading 1.4% Higher

Equity Residential (NYSE:EQRGet Rating) traded up 1.4% during trading on Friday . The company traded as high as $69.83 and last traded at $69.82. 12,690 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 1,282,363 shares. The stock had previously closed at $68.84.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Equity Residential from $78.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. Mizuho lowered their price target on Equity Residential from $79.00 to $77.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley increased their price target on Equity Residential from $75.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 11th. Piper Sandler lowered Equity Residential from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $78.00 to $70.00 in a research report on Wednesday, July 20th. Finally, Royal Bank of Canada raised Equity Residential from a “sector perform” rating to an “outperform” rating and decreased their target price for the company from $95.00 to $79.00 in a research report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.53.

Equity Residential Trading Down 0.6 %

The stock has a market cap of $25.73 billion, a P/E ratio of 20.67, a P/E/G ratio of 2.92 and a beta of 0.82. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.24 and a current ratio of 0.24. The stock has a 50-day moving average price of $75.22 and a 200-day moving average price of $78.61.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, September 26th will be given a dividend of $0.625 per share. The ex-dividend date is Friday, September 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.65%. Equity Residential’s dividend payout ratio (DPR) is presently 75.08%.

Hedge Funds Weigh In On Equity Residential

A number of large investors have recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of Equity Residential by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 7,178 shares of the real estate investment trust’s stock valued at $519,000 after buying an additional 1,740 shares in the last quarter. Amundi increased its stake in Equity Residential by 0.3% in the 2nd quarter. Amundi now owns 562,406 shares of the real estate investment trust’s stock worth $39,396,000 after purchasing an additional 1,475 shares during the period. Verition Fund Management LLC grew its position in shares of Equity Residential by 33.1% in the 2nd quarter. Verition Fund Management LLC now owns 7,102 shares of the real estate investment trust’s stock worth $513,000 after buying an additional 1,767 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Equity Residential in the 2nd quarter worth approximately $1,339,000. Finally, Legal & General Group Plc boosted its position in shares of Equity Residential by 1.7% during the second quarter. Legal & General Group Plc now owns 5,332,783 shares of the real estate investment trust’s stock valued at $385,134,000 after purchasing an additional 87,840 shares in the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.

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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