Equity Residential (NYSE:EQR) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Equity Residential has a consensus “Hold” rating from 23 analysts: 14 holds, 8 buys, and 1 strong buy. The average 12-month price target is $71.40.
• Recent analyst actions were largely neutral, with price targets ranging from $64 to $75; shares opened at $67.80, near their 50-day average and below the 52-week high of $71.50.
• The REIT pays a quarterly dividend of $0.7025, or $2.81 annually, representing a 4.1% yield. Institutional investors own approximately 92.68% of the company.

Shares of Equity Residential (NYSE:EQR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twenty-three analysts that are covering the stock, Marketbeat reports. Fourteen investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $71.40.

Several analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Equity Residential from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Wells Fargo & Company upped their price target on Equity Residential from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. The Goldman Sachs Group decreased their price target on Equity Residential from $71.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday, April 16th. JPMorgan Chase & Co. raised their price target on Equity Residential from $71.00 to $72.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Finally, Piper Sandler lifted their price objective on Equity Residential from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st.

Equity Residential Price Performance

Shares of EQR opened at $67.80 on Thursday. The firm has a 50-day simple moving average of $67.57 and a two-hundred day simple moving average of $64.32. The stock has a market cap of $25.42 billion, a PE ratio of 29.48, a P/E/G ratio of 5.38 and a beta of 0.73. Equity Residential has a 1-year low of $57.57 and a 1-year high of $71.50. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 29th were given a $0.7025 dividend. This represents a $2.81 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, June 29th. Equity Residential's payout ratio is currently 122.17%.

Institutional Trading of Equity Residential

Institutional investors and hedge funds have recently bought and sold shares of the business. Fulcrum Asset Management LLP purchased a new position in shares of Equity Residential in the third quarter valued at approximately $27,000. Zions Bancorporation National Association UT increased its stake in 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 buying an additional 379 shares during the period. DV Equities LLC acquired a new stake in Equity Residential during the 4th quarter worth approximately $30,000. Harvest Fund Management Co. Ltd acquired a new stake in Equity Residential during the 3rd quarter worth approximately $31,000. Finally, Leonteq Securities AG boosted its position in 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 buying an additional 180 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

About Equity Residential

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source