Equity Residential (NYSE:EQR) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Equity Residential (NYSE:EQR) from a hold rating to a sell rating in a report released on Friday morning.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Mizuho reduced their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Barclays dropped their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and upped their target price for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company cut their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $78.36.

Equity Residential Stock Up 1.2 %

Equity Residential stock opened at $70.61 on Friday. The stock has a market cap of $26.79 billion, a PE ratio of 28.94, a P/E/G ratio of 4.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s fifty day moving average is $71.49 and its two-hundred day moving average is $72.66. Equity Residential has a 1-year low of $57.33 and a 1-year high of $78.83.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential’s payout ratio is 110.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maryland Capital Advisors Inc. purchased a new stake in shares of Equity Residential during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Equity Residential during the third quarter worth $29,000. Assetmark Inc. increased its position in shares of Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 430 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Equity Residential in the third quarter valued at $33,000. Finally, UMB Bank n.a. raised its stake in shares of Equity Residential by 69.6% during the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 195 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

About Equity Residential

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.