Equity Residential (NYSE:EQR) Stock Price Up 1.4%

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EQR shares. Jefferies Financial Group cut their price objective on Equity Residential from $78.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, June 30th. Royal Bank of Canada raised Equity Residential from a “sector perform” rating to an “outperform” rating and cut their price objective for the company from $95.00 to $79.00 in a report on Wednesday, June 22nd. UBS Group increased their price objective on Equity Residential from $83.00 to $91.00 and gave the company a “buy” rating in a report on Friday, July 29th. The Goldman Sachs Group increased their price objective on Equity Residential from $78.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. Finally, Barclays increased their price objective on Equity Residential from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, September 15th. One equities research 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. Based on data from MarketBeat.com, Equity Residential presently has an average rating of “Hold” and an average target price of $84.53.

Equity Residential Stock Down 0.6 %

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

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Friday, September 23rd. Equity Residential’s payout ratio is 75.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in Equity Residential in the first quarter valued at about $32,000. Allworth Financial LP raised its stake in Equity Residential by 48.2% during the second quarter. Allworth Financial LP now owns 486 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Equity Residential during the first quarter worth about $40,000. MCF Advisors LLC acquired a new position in Equity Residential during the first quarter worth about $48,000. Finally, CVA Family Office LLC raised its stake in Equity Residential by 34.9% during the first quarter. CVA Family Office LLC now owns 560 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 83.92% of the company’s stock.

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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