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.
Equity Residential Trading Up 1.1 %
Shares of EQR traded up $0.81 during trading hours on Tuesday, hitting $76.56. 11,009 shares of the stock traded hands, compared to its average volume of 1,457,777. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.72. Equity Residential has a 1-year low of $67.48 and a 1-year high of $94.32. The firm has a market capitalization of $28.80 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81. The business has a fifty day moving average of $73.03 and a 200-day moving average of $81.15.
Equity Residential Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, June 27th were issued a $0.625 dividend. The ex-dividend date of this dividend was Friday, June 24th. This represents a $2.50 annualized dividend and a dividend yield of 3.27%. Equity Residential's dividend payout ratio (DPR) is currently 75.08%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on EQR shares. Piper Sandler lowered Equity Residential from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $78.00 to $70.00 in a report on Wednesday, July 20th. Mizuho lowered their target price on Equity Residential from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Monday, June 27th. Truist Financial dropped their price target on Equity Residential from $85.00 to $79.00 and set a "hold" rating on the stock in a research note on Friday, June 24th. Royal Bank of Canada raised Equity Residential from a "sector perform" rating to an "outperform" rating and dropped their price target for the stock from $95.00 to $79.00 in a research note on Wednesday, June 22nd. Finally, Credit Suisse Group initiated coverage on Equity Residential in a research note on Wednesday, June 22nd. They issued an "outperform" rating and a $80.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Equity Residential currently has an average rating of "Hold" and an average price target of $84.18.
Insiders Place Their Bets
In other news, Director Mark S. Shapiro sold 6,665 shares of the company's stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $70.10, for a total transaction of $467,216.50. Following the completion of the transaction, the director now directly owns 12,497 shares of the company's stock, valued at $876,039.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company's stock.