Analysts Set Equity Residential (NYSE:EQR) Target Price at $77.25

Shares of Equity Residential (NYSE:EQR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nineteen brokerages that are currently covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $77.25.

A number of research firms have recently issued reports on EQR. Stifel Nicolaus upgraded Equity Residential from a "hold" rating to a "buy" rating and upped their price objective for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. Bank of America cut shares of Equity Residential from a "buy" rating to a "neutral" rating and increased their price target for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price on shares of Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Finally, Truist Financial lifted their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th.

Equity Residential Price Performance

Shares of Equity Residential stock traded down $0.51 on Friday, hitting $73.28. 1,029,769 shares of the company traded hands, compared to its average volume of 1,811,793. Equity Residential has a 12-month low of $57.33 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. The company has a market cap of $27.80 billion, a P/E ratio of 30.03, a P/E/G ratio of 5.90 and a beta of 0.92. The firm's 50-day simple moving average is $73.93 and its 200 day simple moving average is $71.94.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a $0.675 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.70 annualized dividend and a yield of 3.68%. Equity Residential's dividend payout ratio (DPR) is presently 110.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EQR. Principal Financial Group Inc. boosted its stake in Equity Residential by 482.3% during the second quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust's stock worth $496,040,000 after acquiring an additional 5,925,177 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Equity Residential by 806.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust's stock worth $317,136,000 after purchasing an additional 3,789,234 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Equity Residential by 1,459.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust's stock worth $145,158,000 after buying an additional 1,824,494 shares during the last quarter. FMR LLC increased its position in Equity Residential by 29.0% during the 3rd quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock valued at $576,804,000 after buying an additional 1,741,840 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Equity Residential by 679.0% during the second quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust's stock valued at $40,528,000 after buying an additional 518,424 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

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.