UBS Group Increases Equity Residential (NYSE:EQR) Price Target to $91.00

Equity Residential (NYSE:EQRGet Rating) had its target price upped by UBS Group from $83.00 to $91.00 in a research report report published on Friday, Marketbeat.com reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada reissued a maintains rating on shares of Equity Residential in a report on Thursday, July 28th. Truist Financial dropped their price objective on Equity Residential from $85.00 to $79.00 and set a hold rating on the stock in a report on Friday, June 24th. Barclays dropped their price objective on Equity Residential from $97.00 to $83.00 in a report on Tuesday, May 10th. TheStreet lowered Equity Residential from a b rating to a c+ rating in a report on Friday, May 6th. Finally, Piper Sandler lowered Equity Residential from a neutral rating to an underweight rating and lowered their target price for the company from $78.00 to $70.00 in a report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $84.18.

Equity Residential Price Performance

Shares of NYSE EQR opened at $76.48 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.19 and a debt-to-equity ratio of 0.72. Equity Residential has a twelve month low of $67.48 and a twelve month high of $94.32. The stock has a 50 day moving average of $73.21 and a two-hundred day moving average of $81.64. The stock has a market cap of $28.76 billion, a P/E ratio of 22.97, a P/E/G ratio of 3.38 and a beta of 0.81.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Monday, June 27th were given a $0.625 dividend. The ex-dividend date of this dividend was Friday, June 24th. This represents a $2.50 annualized dividend and a dividend yield of 3.27%. Equity Residential’s payout ratio is 75.08%.

Insider Transactions at Equity Residential

In other news, Director Mark S. Shapiro sold 6,665 shares of Equity Residential stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $70.10, for a total value of $467,216.50. Following the completion of the transaction, the director now owns 12,497 shares in the company, valued at approximately $876,039.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Equity Residential

Several hedge funds have recently added to or reduced their stakes in the business. UMB Bank N A MO acquired a new position in shares of Equity Residential in the 4th quarter worth $30,000. Riverview Trust Co purchased a new position in shares of Equity Residential during the first quarter valued at $32,000. Allworth Financial LP grew its holdings in shares of Equity Residential by 48.2% during the second quarter. Allworth Financial LP now owns 486 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Equity Residential during the first quarter valued at $40,000. Finally, MCF Advisors LLC acquired a new stake in Equity Residential during the first quarter valued at $48,000. Institutional investors own 91.43% of the company’s stock.

About Equity Residential

(Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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