Stifel Nicolaus Trims Equity Residential (NYSE:EQR) Target Price to $59.50

Equity Residential (NYSE:EQR) had its price objective trimmed by Stifel Nicolaus from $60.00 to $59.50 in a research note published on Friday, Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

EQR has been the subject of several other reports. Truist Financial upped their price target on shares of Equity Residential from $71.00 to $77.00 and gave the company a buy rating in a research report on Monday, August 14th. StockNews.com assumed coverage on shares of Equity Residential in a research report on Thursday, October 5th. They set a hold rating for the company. Wedbush began coverage on shares of Equity Residential in a research note on Tuesday, October 3rd. They set a neutral rating and a $62.00 target price on the stock. Wells Fargo & Company upgraded shares of Equity Residential from an equal weight rating to an overweight rating and increased their target price for the company from $62.00 to $69.00 in a report on Tuesday, September 5th. Finally, Royal Bank of Canada cut their price objective on shares of Equity Residential from $68.00 to $65.00 and set an outperform rating for the company in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $65.68.

Equity Residential Trading Up 1.2 %

Shares of NYSE EQR opened at $56.09 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.18 and a current ratio of 0.18. Equity Residential has a 52-week low of $52.57 and a 52-week high of $69.45. The firm has a 50 day moving average price of $57.95 and a two-hundred day moving average price of $62.26. The stock has a market cap of $21.30 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 3.04 and a beta of 0.86.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Tuesday, September 26th were issued a $0.6625 dividend. The ex-dividend date of this dividend was Monday, September 25th. This represents a $2.65 annualized dividend and a dividend yield of 4.72%. Equity Residential’s payout ratio is currently 147.22%.

Insiders Place Their Bets

In other news, Chairman David J. Neithercut sold 25,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $54.25, for a total transaction of $1,356,250.00. Following the sale, the chairman now owns 3,392 shares in the company, valued at $184,016. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. raised its stake in Equity Residential by 593.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Equity Residential by 220.0% during the 2nd quarter. Allworth Financial LP now owns 400 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 275 shares during the period. Money Concepts Capital Corp purchased a new position in shares of Equity Residential during the 4th quarter worth $29,000. First Horizon Advisors Inc. grew its holdings in shares of Equity Residential by 229.8% during the 1st quarter. First Horizon Advisors Inc. now owns 554 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 386 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Equity Residential by 207.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 600 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 405 shares during the period. 84.79% of the stock is owned by institutional investors and hedge funds.

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.