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, D.C., Seattle, San Francisco, Southern California and Denver.
Analysts Set New Price Targets
EQR has been the topic of a number of research analyst reports. Barclays decreased their target price on Equity Residential from $97.00 to $83.00 in a research report on Tuesday, May 10th. Credit Suisse Group began coverage on Equity Residential in a research report on Wednesday, June 22nd. They issued an "outperform" rating and a $80.00 price objective on the stock. Morgan Stanley upped their price objective 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. Scotiabank reduced their price objective on Equity Residential from $92.00 to $90.00 in a research report on Thursday, May 19th. Finally, UBS Group upped their price objective on Equity Residential from $83.00 to $91.00 and gave the company a "buy" rating in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Equity Residential presently has a consensus rating of "Hold" and an average target price of $84.65.
Equity Residential Stock Up 0.4 %
EQR traded up $0.31 on Tuesday, reaching $80.29. The company's stock had a trading volume of 11,667 shares, compared to its average volume of 1,499,600. The stock has a market cap of $30.20 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 3.40 and a beta of 0.81. Equity Residential has a 1 year low of $67.48 and a 1 year high of $94.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.24 and a quick ratio of 0.24. The business's 50 day moving average is $73.29 and its 200 day moving average is $80.83.
Equity Residential Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, June 27th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, June 24th. Equity Residential's dividend payout ratio is presently 75.08%.
Insiders Place Their Bets
In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of the stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $70.10, for a total transaction of $467,216.50. Following the transaction, the director now owns 12,497 shares of the company's stock, valued at approximately $876,039.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.30% of the stock is currently owned by company insiders.