Equity Residential Plans Quarterly Dividend of $0.60 (NYSE:EQR)

Equity Residential (NYSE:EQR) declared a quarterly dividend on Tuesday, September 15th, RTT News reports. Shareholders of record on Friday, September 25th will be paid a dividend of 0.6025 per share by the real estate investment trust on Friday, October 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.28%.

Equity Residential has increased its dividend payment by 12.7% over the last three years and has increased its dividend every year for the last 2 years.

Shares of NYSE EQR traded down $0.60 on Tuesday, reaching $56.33. 2,556,451 shares of the company’s stock traded hands, compared to its average volume of 2,561,533. Equity Residential has a 12 month low of $49.62 and a 12 month high of $89.55. The business’s 50 day simple moving average is $55.35 and its two-hundred day simple moving average is $61.18. The company has a market cap of $21.19 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 4.26 and a beta of 0.56. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.78.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.13). The business had revenue of $653.53 million for the quarter, compared to the consensus estimate of $661.89 million. Equity Residential had a net margin of 41.64% and a return on equity of 10.62%. Equity Residential’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. Analysts forecast that Equity Residential will post 3.36 earnings per share for the current fiscal year.

EQR has been the subject of a number of research reports. Piper Sandler reduced their price objective on Equity Residential from $56.00 to $50.00 and set an “underweight” rating for the company in a research report on Monday, July 27th. Argus reduced their price objective on Equity Residential from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. BMO Capital Markets cut Equity Residential from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $68.00 to $51.00 in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $60.00 price objective on shares of Equity Residential in a research report on Tuesday, August 11th. Finally, Scotiabank cut Equity Residential from a “sector outperform” rating to a “sector underperform” rating and reduced their price objective for the company from $68.00 to $55.00 in a research report on Monday, June 29th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. Equity Residential has a consensus rating of “Hold” and a consensus target price of $69.95.

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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Dividend History for Equity Residential (NYSE:EQR)

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