Argus Upgrades Equity Residential (NYSE:EQR) to “Buy”

Argus upgraded shares of Equity Residential (NYSE:EQRGet Rating) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat reports. The brokerage currently has $72.00 target price on the real estate investment trust’s stock.

Several other research analysts also recently commented on EQR. UBS Group raised their price objective on shares of Equity Residential from $83.00 to $91.00 and gave the stock a buy rating in a report on Friday, July 29th. Evercore ISI cut their price objective on shares of Equity Residential to $75.00 in a report on Thursday, October 13th. The Goldman Sachs Group cut their price objective on shares of Equity Residential from $86.00 to $74.00 and set a neutral rating for the company in a report on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Equity Residential from $85.00 to $73.00 and set a hold rating for the company in a report on Tuesday, October 4th. Finally, BMO Capital Markets downgraded shares of Equity Residential from an outperform rating to a market perform rating and cut their price objective for the stock from $88.00 to $74.00 in a report on Thursday, October 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $78.00.

Equity Residential Stock Up 1.9 %

Equity Residential stock opened at $62.93 on Thursday. Equity Residential has a twelve month low of $59.32 and a twelve month high of $94.32. The firm has a 50 day moving average price of $65.29 and a 200-day moving average price of $71.24. The company has a market capitalization of $23.78 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.62 and a beta of 0.77. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.67.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, September 26th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Friday, September 23rd. Equity Residential’s dividend payout ratio is currently 82.24%.

Institutional Trading of Equity Residential

Hedge funds have recently made changes to their positions in the stock. Avantax Advisory Services Inc. lifted its stake in Equity Residential by 19.0% in the first quarter. Avantax Advisory Services Inc. now owns 3,199 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 510 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Equity Residential by 1.2% in the first quarter. Mutual of America Capital Management LLC now owns 45,607 shares of the real estate investment trust’s stock worth $4,101,000 after purchasing an additional 546 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Equity Residential by 11.2% in the first quarter. DAVENPORT & Co LLC now owns 2,872 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 289 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Equity Residential in the first quarter worth $40,000. Finally, Metis Global Partners LLC lifted its stake in Equity Residential by 84.4% in the first quarter. Metis Global Partners LLC now owns 5,488 shares of the real estate investment trust’s stock worth $493,000 after purchasing an additional 2,512 shares during the last quarter. 83.92% of the stock is owned by institutional investors.

Equity Residential Company Profile

(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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Analyst Recommendations for Equity Residential (NYSE:EQR)

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