Equity Residential (NYSE:EQR) Price Target Cut to $78.00 by Analysts at Scotiabank

Equity Residential (NYSE:EQR) had its price objective cut by Scotiabank from $81.00 to $78.00 in a report published on Thursday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. Royal Bank of Canada decreased their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and lifted their price objective for the company from $77.75 to $81.50 in a report on Wednesday. Evercore ISI boosted their price target on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. The Goldman Sachs Group initiated coverage on Equity Residential in a research report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 target price on the stock. Finally, Wedbush upped their price target on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.25.

Equity Residential Trading Up 0.8 %

Equity Residential stock traded up $0.57 during mid-day trading on Thursday, hitting $73.64. The stock had a trading volume of 691,815 shares, compared to its average volume of 1,846,839. The stock has a 50-day simple moving average of $74.34 and a two-hundred day simple moving average of $70.65. The stock has a market capitalization of $27.94 billion, a PE ratio of 29.99, a P/E/G ratio of 6.07 and a beta of 0.90. Equity Residential has a 12 month low of $54.53 and a 12 month high of $78.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were paid a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.67%. Equity Residential’s payout ratio is presently 110.66%.

Institutional Trading of Equity Residential

Large investors have recently bought and sold shares of the company. Maryland Capital Advisors Inc. bought a new stake in shares of Equity Residential in the 3rd quarter worth approximately $25,000. Assetmark Inc. raised its holdings in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 430 shares during the last quarter. Brooklyn Investment Group purchased a new position in Equity Residential in the 3rd quarter worth approximately $33,000. UMB Bank n.a. raised its holdings in Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 195 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised 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 worth $36,000 after acquiring an additional 155 shares during the last quarter. 92.68% of the stock is owned by institutional investors.

Equity Residential Company Profile

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.