Equity Residential (NYSE:EQR) Plans $0.60 Quarterly Dividend

Equity Residential (NYSE:EQR) declared a quarterly dividend on Tuesday, September 15th, RTT News reports. Shareholders of record on Friday, September 25th will be given a dividend of 0.6025 per share by the real estate investment trust on Friday, October 9th. This represents a $2.41 annualized dividend and a yield of 4.28%.

Equity Residential has increased its dividend by 12.7% over the last three years and has raised its dividend every year for the last 2 years.

NYSE:EQR opened at $56.33 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 4.26 and a beta of 0.56. Equity Residential has a one year low of $49.62 and a one year high of $89.55. The business has a fifty day moving average price of $55.40 and a 200-day moving average price of $61.03.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.13). Equity Residential had a return on equity of 10.62% and a net margin of 41.64%. The company had revenue of $653.53 million during the quarter, compared to analysts’ expectations of $661.89 million. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that Equity Residential will post 3.36 earnings per share for the current fiscal year.

Several brokerages have weighed in on EQR. Jefferies Financial Group reaffirmed a “hold” rating and set a $60.00 price target on shares of Equity Residential in a report on Tuesday, August 11th. Mizuho upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and lifted their target price for the company from $62.00 to $63.00 in a research note on Tuesday, September 1st. Argus cut their price target on Equity Residential from $90.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. BMO Capital Markets cut Equity Residential from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $68.00 to $51.00 in a report on Monday, August 3rd. Finally, TheStreet lowered Equity Residential from a “b-” rating to a “c+” rating in a research note on Wednesday, July 8th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Equity Residential presently has an average rating of “Hold” and a consensus target price of $69.95.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Dividend History for Equity Residential (NYSE:EQR)

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