Equity Residential (NYSE:EQR) Stock Rating Upgraded by Stifel Nicolaus

Stifel Nicolaus upgraded shares of Equity Residential (NYSE:EQR) from a hold rating to a buy rating in a research report report published on Wednesday morning, 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 equities analysts have also issued reports on the company. Evercore ISI boosted their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. UBS Group lifted their price objective on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lifted their price objective on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group assumed coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective on the stock. Finally, Piper Sandler lifted their price objective on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.25.

Equity Residential Price Performance

NYSE EQR opened at $73.59 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50-day moving average is $74.32 and its two-hundred day moving average is $70.71. The firm has a market cap of $27.92 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 6.07 and a beta of 0.90. Equity Residential has a fifty-two week low of $54.53 and a fifty-two week high of $78.83.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is 110.66%.

Institutional Trading of Equity Residential

Institutional investors and hedge funds have recently made changes to their positions in the business. Maryland Capital Advisors Inc. bought a new stake in shares of Equity Residential in the 3rd quarter valued at $25,000. Assetmark Inc. increased its position 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 bought a new stake in shares of Equity Residential in the 3rd quarter valued at $33,000. UMB Bank n.a. boosted its stake in Equity Residential by 69.6% in the 3rd 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 during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Equity Residential by 41.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 155 shares during the period. 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.