Truist Financial Cuts Equity Residential (NYSE:EQR) Price Target to $85.00

Equity Residential (NYSE:EQRGet Rating) had its target price decreased by Truist Financial to $85.00 in a research report report published on Thursday, Stock Target Advisor reports.

EQR has been the topic of several other reports. Piper Sandler dropped their price target on shares of Equity Residential from $97.00 to $85.00 in a research note on Wednesday, May 4th. Scotiabank dropped their price target on shares of Equity Residential from $92.00 to $90.00 in a research note on Thursday, May 19th. TheStreet lowered shares of Equity Residential from a b rating to a c+ rating in a research note on Friday, May 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Equity Residential from $94.00 to $93.00 and set a hold rating on the stock in a research note on Thursday, March 24th. Finally, Morgan Stanley lowered their target price on shares of Equity Residential from $86.50 to $78.50 and set an equal weight rating on the stock in a research report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $88.15.

Shares of NYSE:EQR opened at $78.13 on Thursday. The firm’s 50 day moving average price is $84.32 and its 200 day moving average price is $86.55. The stock has a market cap of $29.37 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 3.43 and a beta of 0.81. Equity Residential has a fifty-two week low of $71.86 and a fifty-two week high of $94.32. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.74.

Equity Residential (NYSE:EQRGet Rating) last issued its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.61). Equity Residential had a net margin of 53.42% and a return on equity of 12.35%. During the same quarter last year, the firm posted $0.68 earnings per share. On average, equities analysts anticipate that Equity Residential will post 3.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Monday, March 28th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.20%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 25th. Equity Residential’s dividend payout ratio (DPR) is 69.83%.

A number of large investors have recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in Equity Residential in the fourth quarter valued at $29,000. UMB Bank N A MO acquired a new stake in Equity Residential in the fourth quarter valued at $30,000. Riverview Trust Co acquired a new stake in Equity Residential in the first quarter valued at $32,000. CVA Family Office LLC acquired a new stake in Equity Residential in the fourth quarter valued at $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Equity Residential in the first quarter valued at $40,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

About Equity Residential (Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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