Equity Residential (NYSE:EQR) declared a quarterly dividend on Thursday, March 15th, RTT News reports. Shareholders of record on Monday, March 26th will be paid a dividend of 0.54 per share by the real estate investment trust on Friday, April 13th. This represents a $2.16 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, March 23rd. This is an increase from Equity Residential’s previous quarterly dividend of $0.50.
Equity Residential has decreased its dividend by an average of 2.1% annually over the last three years. Equity Residential has a dividend payout ratio of 64.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Equity Residential to earn $3.36 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 60.1%.
Equity Residential stock opened at $60.13 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.29 and a quick ratio of 0.29. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46. The company has a market capitalization of $22,189.58, a PE ratio of 19.19, a price-to-earnings-growth ratio of 3.17 and a beta of 0.42.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.47). Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The firm had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $625.83 million. During the same quarter last year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. equities research analysts forecast that Equity Residential will post 3.22 EPS for the current fiscal year.
EQR has been the topic of a number of recent research reports. Edward Jones upgraded Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. BMO Capital Markets restated a “hold” rating and issued a $69.00 target price on shares of Equity Residential in a research note on Monday, November 27th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $66.00 target price (down previously from $69.00) on shares of Equity Residential in a research note on Wednesday, February 21st. Robert W. Baird restated a “hold” rating and issued a $65.00 target price on shares of Equity Residential in a research note on Tuesday, January 9th. Finally, Zacks Investment Research downgraded Equity Residential from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $66.82.
In other Equity Residential news, COO David S. Santee sold 5,589 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $325,168.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark J. Parrell sold 7,355 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $427,913.90. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock valued at $819,000 in the last ninety days. Insiders own 3.79% of the company’s stock.
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.
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