Equity Residential (EQR) Given “Hold” Rating at Robert W. Baird

Robert W. Baird reaffirmed their hold rating on shares of Equity Residential (NYSE:EQR) in a report published on Tuesday morning. Robert W. Baird currently has a $65.00 target price on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on EQR. TheStreet downgraded Equity Residential from a b rating to a c+ rating in a report on Tuesday, October 24th. Stifel Nicolaus decreased their price target on Equity Residential from $71.00 to $68.00 and set a hold rating for the company in a report on Friday, October 27th. SunTrust Banks set a $71.00 price target on Equity Residential and gave the stock a buy rating in a report on Tuesday, October 24th. Zacks Investment Research upgraded Equity Residential from a sell rating to a hold rating in a report on Wednesday, October 25th. Finally, Royal Bank of Canada reissued a hold rating and set a $70.00 price objective on shares of Equity Residential in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $69.13.

Shares of Equity Residential (NYSE:EQR) traded down $0.89 during trading on Tuesday, reaching $61.46. The company’s stock had a trading volume of 1,781,780 shares, compared to its average volume of 1,714,343. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 0.24. Equity Residential has a 52-week low of $59.49 and a 52-week high of $70.46. The firm has a market cap of $22,910.00, a P/E ratio of 21.19, a P/E/G ratio of 3.05 and a beta of 0.36.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.5038 per share. The ex-dividend date is Friday, December 29th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.28%. Equity Residential’s dividend payout ratio (DPR) is presently 69.66%.

In related news, Chairman Samuel Zell sold 91,651 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $67.17, for a total value of $6,156,197.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark J. Parrell sold 50,000 shares of the firm’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 in the last three months. Insiders own 3.79% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in EQR. D.A. Davidson & CO. lifted its position in Equity Residential by 4.1% in the 2nd quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 73 shares in the last quarter. Amica Retiree Medical Trust bought a new position in Equity Residential in the 3rd quarter valued at about $135,000. Zions Bancorporation lifted its position in Equity Residential by 3,348.4% in the 3rd quarter. Zions Bancorporation now owns 2,138 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 2,076 shares in the last quarter. Americafirst Capital Management LLC bought a new position in Equity Residential in the 3rd quarter valued at about $171,000. Finally, Sun Life Financial INC lifted its position in Equity Residential by 22,450.0% in the 2nd quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 2,694 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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Equity Residential Company Profile

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.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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