Equity Residential (EQR) To Go Ex-Dividend on December 29th

Equity Residential (NYSE:EQR) announced a quarterly dividend on Tuesday, December 19th, RTT News reports. Shareholders of record on Tuesday, January 2nd will be paid a dividend of 0.5038 per share by the real estate investment trust on Friday, January 12th. This represents a $2.02 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, December 29th.

Equity Residential has increased its dividend payment by an average of 1.6% per year over the last three years. Equity Residential has a dividend payout ratio of 64.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Equity Residential to earn $3.25 per share next year, which means the company should continue to be able to cover its $2.02 annual dividend with an expected future payout ratio of 62.2%.

Shares of Equity Residential (NYSE:EQR) opened at $63.80 on Friday. Equity Residential has a fifty-two week low of $59.49 and a fifty-two week high of $70.46. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.86. The firm has a market cap of $23,294.86, a PE ratio of 31.27, a PEG ratio of 3.21 and a beta of 0.36.

EQR has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on shares of Equity Residential in a report on Friday, September 1st. They issued a “hold” rating and a $71.00 target price on the stock. BMO Capital Markets restated a “hold” rating and issued a $68.00 target price on shares of Equity Residential in a report on Wednesday, September 6th. Jefferies Group restated a “hold” rating and issued a $65.00 target price on shares of Equity Residential in a report on Sunday, September 10th. Zacks Investment Research downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $70.00 target price on shares of Equity Residential in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.47.

In related news, Chairman Samuel Zell sold 91,651 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $67.17, for a total transaction of $6,156,197.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark J. Parrell sold 50,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $68.00, for a total transaction of $3,400,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 402,380 shares of company stock worth $27,663,622 over the last quarter. 3.79% of the stock is currently owned by insiders.

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About Equity Residential

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

Dividend History for Equity Residential (NYSE:EQR)

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