Equity Residential (NYSE:EQR) PT Lowered to $81.00 at Evercore ISI

Equity Residential (NYSE:EQRGet Rating) had its price target lowered by Evercore ISI from $85.00 to $81.00 in a report released on Monday, The Fly reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts also recently commented on EQR. Mizuho cut their price objective on Equity Residential from $79.00 to $77.00 and set a buy rating for the company in a report on Monday. Credit Suisse Group started coverage on shares of Equity Residential in a research report on Wednesday, June 22nd. They set an outperform rating and a $80.00 price objective for the company. Piper Sandler lowered shares of Equity Residential from a neutral rating to an underweight rating and dropped their price objective for the company from $78.00 to $70.00 in a research report on Wednesday, July 20th. Truist Financial reduced their target price on shares of Equity Residential from $85.00 to $79.00 and set a hold rating for the company in a report on Friday, June 24th. Finally, Morgan Stanley upped their price target on shares of Equity Residential from $75.00 to $83.00 and gave the company an equal weight rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Equity Residential presently has an average rating of Hold and a consensus price target of $84.53.

Equity Residential Trading Up 0.2 %

NYSE EQR opened at $68.84 on Monday. The company has a market cap of $25.89 billion, a PE ratio of 20.67, a PEG ratio of 2.97 and a beta of 0.82. 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 12 month low of $67.48 and a 12 month high of $94.32. The stock has a 50 day moving average of $75.22 and a 200-day moving average of $78.61.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, September 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.63%. Equity Residential’s payout ratio is presently 75.08%.

Institutional Trading of Equity Residential

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of Equity Residential by 32.0% during the 2nd quarter. Federated Hermes Inc. now owns 7,178 shares of the real estate investment trust’s stock worth $519,000 after acquiring an additional 1,740 shares during the period. Amundi increased its position in shares of Equity Residential by 0.3% during the second quarter. Amundi now owns 562,406 shares of the real estate investment trust’s stock worth $39,396,000 after buying an additional 1,475 shares during the period. Verition Fund Management LLC increased its position in shares of Equity Residential by 33.1% during the second quarter. Verition Fund Management LLC now owns 7,102 shares of the real estate investment trust’s stock worth $513,000 after buying an additional 1,767 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Equity Residential during the second quarter worth $1,339,000. Finally, Legal & General Group Plc increased its position in shares of Equity Residential by 1.7% during the second quarter. Legal & General Group Plc now owns 5,332,783 shares of the real estate investment trust’s stock worth $385,134,000 after buying an additional 87,840 shares during the period. Institutional investors own 83.92% of the company’s stock.

Equity Residential Company Profile

(Get Rating)

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, DC, Seattle, San Francisco, Southern California and Denver.

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