Equity Residential (NYSE:EQR – Free Report) had its price objective raised by Truist Financial from $71.00 to $77.00 in a research note released on Monday, Marketbeat reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also recently weighed in on EQR. Piper Sandler upgraded shares of Equity Residential from an underweight rating to a neutral rating and boosted their target price for the company from $63.00 to $68.00 in a research note on Friday, June 9th. StockNews.com initiated coverage on Equity Residential in a research note on Thursday, May 18th. They issued a hold rating on the stock. 3M reaffirmed an upgrade rating on shares of Equity Residential in a research report on Friday, June 9th. Morgan Stanley lifted their price objective on Equity Residential from $64.00 to $68.00 and gave the stock an equal weight rating in a report on Wednesday, July 19th. Finally, BMO Capital Markets raised shares of Equity Residential from an underperform rating to a market perform rating and upped their price objective for the company from $60.00 to $64.00 in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity Residential currently has an average rating of Hold and an average target price of $69.31.

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Equity Residential Trading Down 0.1 %

Equity Residential Announces Dividend

NYSE EQR opened at $63.76 on Monday. The business’s fifty day moving average is $66.16 and its 200-day moving average is $63.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 3.16 and a beta of 0.83. Equity Residential has a one year low of $54.60 and a one year high of $80.89.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were given a dividend of $0.6625 per share. This represents a $2.65 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Friday, June 23rd. Equity Residential’s payout ratio is 119.91%.

Insider Buying and Selling at Equity Residential

In other news, COO Michael L. Manelis sold 2,500 shares of Equity Residential stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $66.04, for a total transaction of $165,100.00. Following the completion of the sale, the chief operating officer now owns 22,844 shares in the company, valued at approximately $1,508,617.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.69% of the company’s stock.

Institutional Trading of Equity Residential

A number of hedge funds have recently made changes to their positions in the stock. Roger Wittlin Investment Advisory LLC boosted its holdings in shares of Equity Residential by 2.1% in the 2nd quarter. Roger Wittlin Investment Advisory LLC now owns 7,544 shares of the real estate investment trust’s stock worth $498,000 after purchasing an additional 158 shares in the last quarter. Cibc World Market Inc. boosted its stake in Equity Residential by 1.2% in the second quarter. Cibc World Market Inc. now owns 13,757 shares of the real estate investment trust’s stock worth $908,000 after buying an additional 161 shares in the last quarter. Securian Asset Management Inc. grew its position in Equity Residential by 0.6% during the first quarter. Securian Asset Management Inc. now owns 28,128 shares of the real estate investment trust’s stock valued at $1,688,000 after acquiring an additional 167 shares during the last quarter. CWM LLC raised its stake in shares of Equity Residential by 5.9% during the second quarter. CWM LLC now owns 3,114 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 174 shares in the last quarter. Finally, Veritable L.P. lifted its holdings in shares of Equity Residential by 5.0% in the 2nd quarter. Veritable L.P. now owns 3,851 shares of the real estate investment trust’s stock worth $254,000 after acquiring an additional 184 shares during the last quarter. 82.52% of the stock is owned by institutional investors.

Equity Residential Company Profile

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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 304 properties consisting of 80,212 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.

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