Brokerages Set Equity Residential (NYSE:EQR) Target Price at $78.51

Shares of Equity Residential (NYSE:EQR) have received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $78.51.

EQR has been the subject of a number of analyst reports. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a research note on Tuesday, February 4th. Truist Financial upped their price objective on Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Evercore ISI increased their target price on Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Finally, Barclays decreased their price target on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th.

Insider Transactions at Equity Residential

In other Equity Residential news, EVP Scott Fenster sold 5,340 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the sale, the executive vice president now directly owns 35,507 shares of the company’s stock, valued at approximately $2,558,634.42. The trade was a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Ian Kaufman sold 642 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the transaction, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,763 shares of company stock worth $1,424,217. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Equity Residential

A number of institutional investors and hedge funds have recently modified their holdings of EQR. Norges Bank acquired a new stake in Equity Residential during the 4th quarter worth $2,493,426,000. State Street Corp boosted its position in shares of Equity Residential by 1.4% in the 3rd quarter. State Street Corp now owns 23,922,127 shares of the real estate investment trust’s stock worth $1,796,976,000 after purchasing an additional 321,002 shares during the last quarter. APG Asset Management US Inc. grew its stake in shares of Equity Residential by 0.5% during the fourth quarter. APG Asset Management US Inc. now owns 11,664,576 shares of the real estate investment trust’s stock worth $837,050,000 after purchasing an additional 57,660 shares during the period. Geode Capital Management LLC increased its holdings in Equity Residential by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 9,519,627 shares of the real estate investment trust’s stock valued at $681,594,000 after purchasing an additional 165,683 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Equity Residential by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 7,897,863 shares of the real estate investment trust’s stock valued at $566,749,000 after buying an additional 152,248 shares during the period. 92.68% of the stock is owned by institutional investors.

Equity Residential Stock Up 0.7 %

Shares of EQR stock opened at $71.52 on Monday. Equity Residential has a one year low of $59.48 and a one year high of $78.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a fifty day moving average price of $70.90 and a 200 day moving average price of $72.56. The stock has a market cap of $27.16 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a $0.6925 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Equity Residential’s previous quarterly dividend of $0.68. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.87%. Equity Residential’s payout ratio is currently 101.84%.

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.