Barclays Trims Equity Residential (NYSE:EQR) Target Price to $70.00

Equity Residential (NYSE:EQRGet Rating) had its price objective decreased by Barclays from $88.00 to $70.00 in a research report released on Thursday morning, The Fly reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group decreased their price objective on Equity Residential from $72.00 to $64.00 and set a hold rating on the stock in a report on Wednesday, October 19th. Stifel Nicolaus reduced their target price on Equity Residential from $84.00 to $75.00 in a report on Friday, October 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Equity Residential from $85.00 to $73.00 and set a hold rating on the stock in a report on Tuesday, October 4th. Mizuho reduced their target price on Equity Residential from $79.00 to $77.00 and set a buy rating on the stock in a report on Monday, September 19th. Finally, StockNews.com began coverage on Equity Residential in a report on Wednesday, October 12th. They issued a hold rating on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $78.33.

Equity Residential Price Performance

EQR stock opened at $62.78 on Thursday. Equity Residential has a 52-week low of $59.32 and a 52-week high of $94.32. The stock’s fifty day simple moving average is $66.66 and its 200-day simple moving average is $71.92. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $23.73 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.67 and a beta of 0.77.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, September 26th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Friday, September 23rd. Equity Residential’s payout ratio is 82.24%.

Institutional Trading of Equity Residential

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in shares of Equity Residential by 290.5% during the third quarter. EverSource Wealth Advisors LLC now owns 410 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 305 shares during the last quarter. Allworth Financial LP increased its holdings in Equity Residential by 48.2% in 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 during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Equity Residential in the first quarter valued at about $40,000. Guardian Wealth Advisors LLC bought a new stake in Equity Residential in the third quarter valued at about $41,000. Finally, IFP Advisors Inc increased its holdings in Equity Residential by 32.2% in the third quarter. IFP Advisors Inc now owns 776 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 189 shares during the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.

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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