Equity Residential (NYSE:EQR) Receives $75.97 Consensus PT from Brokerages

Shares of Equity Residential (NYSE:EQR) have been given a consensus recommendation of “Hold” by the nineteen ratings firms that are presently covering the company, MarketBeat reports. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $75.97.

Several research analysts have recently issued reports on EQR shares. BNP Paribas started coverage on shares of Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target for the company. Truist Financial upped their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. UBS Group increased their price objective on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada increased their price objective on shares of Equity Residential from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st.

Equity Residential Stock Up 0.3 %

NYSE EQR opened at $73.53 on Monday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. Equity Residential has a 1-year low of $52.57 and a 1-year high of $78.83. The company has a 50 day moving average of $73.64 and a 200-day moving average of $68.43. The company has a market cap of $27.91 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 5.60 and a beta of 0.89.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The business had revenue of $734.20 million during the quarter, compared to analyst estimates of $735.26 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Equity Residential will post 3.89 earnings per share for the current fiscal year.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th will be paid a $0.675 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.67%. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EQR. Fidelis Capital Partners LLC bought a new position in shares of Equity Residential during the 1st quarter valued at approximately $27,000. Voisard Asset Management Group Inc. bought a new position in Equity Residential in the 4th quarter valued at $33,000. Massmutual Trust Co. FSB ADV boosted its holdings in Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 155 shares during the period. HHM Wealth Advisors LLC boosted its holdings in Equity Residential by 146.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 327 shares during the period. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Equity Residential during the 1st quarter valued at $41,000. 92.68% of the stock is owned by institutional investors.

About Equity Residential

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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.