Equity Residential (NYSE:EQR) Downgraded to "Sell" Rating by StockNews.com

StockNews.com lowered shares of Equity Residential (NYSE:EQR - Free Report) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Several other research firms also recently weighed in on EQR. Royal Bank of Canada decreased their target price on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company decreased their price objective on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Scotiabank lowered their target price on shares of Equity Residential from $81.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 14th. Mizuho reduced their target price on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Finally, Barclays decreased their price target on shares of Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $78.36.

Equity Residential Price Performance

Shares of EQR traded up $0.87 during mid-day trading on Friday, hitting $70.61. 2,584,176 shares of the company were exchanged, compared to its average volume of 1,491,875. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 4.21 and a beta of 0.93. Equity Residential has a 1-year low of $57.33 and a 1-year high of $78.83. The company has a 50 day moving average of $71.49 and a 200-day moving average of $72.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Thursday, January 2nd. Equity Residential's dividend payout ratio is presently 110.66%.

Hedge Funds Weigh In On Equity Residential

Several large investors have recently made changes to their positions in the stock. Vert Asset Management LLC lifted its stake in Equity Residential by 7.5% during the fourth quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust's stock worth $10,782,000 after purchasing an additional 10,472 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Equity Residential during the 3rd quarter worth about $923,000. Atomi Financial Group Inc. boosted its holdings in Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust's stock valued at $266,000 after acquiring an additional 284 shares during the period. Tidal Investments LLC grew its position in Equity Residential by 12.3% in the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust's stock valued at $9,625,000 after acquiring an additional 14,109 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Equity Residential by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust's stock worth $298,461,000 after purchasing an additional 124,795 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

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.