Equity Residential (NYSE:EQR) Given Consensus Recommendation of “Hold” by Brokerages

Equity Residential (NYSE:EQR) has earned a consensus rating of “Hold” from the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $71.40.

EQR has been the subject of several recent research reports. Truist Financial lifted their price objective on Equity Residential from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Mizuho raised their target price on shares of Equity Residential from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, June 10th. Wolfe Research upgraded shares of Equity Residential from a “hold” rating to an “outperform” rating in a research note on Monday, June 1st. Piper Sandler boosted their price target on shares of Equity Residential from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Finally, Bank of America raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Wednesday, May 27th.

Hedge Funds Weigh In On Equity Residential

Several large investors have recently bought and sold shares of the business. Fulcrum Asset Management LLP acquired a new stake in Equity Residential in the third quarter valued at $27,000. Zions Bancorporation National Association UT boosted its position in shares of 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 acquiring an additional 379 shares in the last quarter. DV Equities LLC acquired a new position in shares of Equity Residential during the 4th quarter worth about $30,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Equity Residential in the 3rd quarter valued at about $31,000. Finally, Leonteq Securities AG increased its holdings in shares of 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 acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 0.2%

EQR opened at $67.80 on Thursday. The business has a fifty day moving average price of $67.57 and a 200 day moving average price of $64.32. 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 has a 12 month low of $57.57 and a 12 month high of $71.50. The stock has a market capitalization of $25.42 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 5.38 and a beta of 0.73.

Equity Residential Dividend Announcement

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

Equity Residential Company Profile

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.