Equity Residential (NYSE:EQR) Upgraded to "Buy" at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Equity Residential (NYSE:EQR - Free Report) from a hold rating to a buy rating in a research report released on Wednesday, MarketBeat Ratings reports. Stifel Nicolaus currently has $81.50 price target on the real estate investment trust's stock, up from their prior price target of $77.75.

Several other research analysts have also recently weighed in on EQR. Wells Fargo & Company cut shares of Equity Residential from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of Equity Residential in a report on Wednesday, September 4th. They issued a "neutral" rating and a $81.00 price objective on the stock. Truist Financial raised their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Bank of America lowered shares of Equity Residential from a "buy" rating to a "neutral" rating and raised their price objective for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Finally, Piper Sandler upped their price objective on Equity Residential from $80.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Equity Residential currently has a consensus rating of "Hold" and an average price target of $77.42.

Equity Residential Price Performance

NYSE EQR traded up $1.59 during trading on Wednesday, reaching $74.64. 1,380,696 shares of the company traded hands, compared to its average volume of 1,851,631. Equity Residential has a 1-year low of $54.53 and a 1-year high of $78.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The stock's 50 day moving average price is $74.40 and its two-hundred day moving average price is $70.60. The company has a market cap of $28.32 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 5.94 and a beta of 0.90.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.62%. Equity Residential's payout ratio is 110.66%.

Institutional Trading of Equity Residential

A number of hedge funds and other institutional investors have recently bought and sold shares of EQR. Maryland Capital Advisors Inc. purchased a new position in shares of Equity Residential in the 3rd quarter valued at about $25,000. Assetmark Inc. boosted its holdings in shares of Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 430 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Equity Residential in the 3rd quarter valued at $33,000. UMB Bank n.a. increased its position in shares of Equity Residential by 69.6% during the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 195 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 155 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

About Equity Residential

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.