Equity Residential (NYSE:EQR) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Equity Residential (NYSE:EQR) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. Stifel Nicolaus currently has $81.50 price objective on the real estate investment trust’s stock, up from their previous price objective of $77.75.

A number of other equities analysts also recently issued reports on the stock. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Scotiabank raised their target price on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Bank of America cut shares of Equity Residential from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $78.00 to $82.00 in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada decreased their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential has an average rating of “Hold” and an average target price of $77.25.

Equity Residential Price Performance

Equity Residential stock opened at $73.59 on Wednesday. The stock has a market cap of $27.92 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 6.07 and a beta of 0.90. The firm has a 50-day moving average of $74.32 and a two-hundred day moving average of $70.71. Equity Residential has a 1 year low of $54.53 and a 1 year high of $78.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 110.66%.

Hedge Funds Weigh In On Equity Residential

Several large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in Equity Residential by 482.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after purchasing an additional 5,925,177 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Equity Residential by 806.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock worth $317,136,000 after buying an additional 3,789,234 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Equity Residential by 1,459.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock worth $145,158,000 after buying an additional 1,824,494 shares during the period. FMR LLC grew its stake in shares of Equity Residential by 29.0% in the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock valued at $576,804,000 after buying an additional 1,741,840 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Equity Residential by 679.0% in the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock valued at $40,528,000 after acquiring an additional 518,424 shares in 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.