Equity Residential (EQR) To Go Ex-Dividend on September 22nd
Equity Residential (NYSE:EQR) announced a quarterly dividend on Friday, September 15th, RTT News reports. Stockholders of record on Monday, September 25th will be given a dividend of 0.5038 per share by the real estate investment trust on Friday, October 13th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, September 22nd.
Equity Residential has raised its dividend payment by an average of 1.6% annually over the last three years. Equity Residential has a dividend payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. 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 67.88 on Friday. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 30.37 and a beta of 0.36. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83. The stock has a 50 day moving average price of $67.58 and a 200-day moving average price of $65.55.
Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $612.48 million during the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.76 earnings per share. Equities research analysts forecast that Equity Residential will post $1.48 earnings per share for the current year.
In other news, Director Mark S. Shapiro sold 2,853 shares of Equity Residential stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $67.30, for a total transaction of $192,006.90. Following the completion of the sale, the director now owns 2,573 shares of the company’s stock, valued at $173,162.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael L. Manelis sold 433 shares of Equity Residential stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $29,023.99. The disclosure for this sale can be found here. Insiders have sold 173,622 shares of company stock valued at $11,816,599 in the last ninety days. Insiders own 3.79% of the company’s stock.
Several research analysts recently commented on EQR shares. BidaskClub lowered Equity Residential from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Stifel Nicolaus started coverage on Equity Residential in a research report on Friday, September 1st. They issued a “hold” rating and a $71.00 price target for the company. Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $67.00 price target on shares of Equity Residential in a research report on Monday, July 17th. Finally, Bank of America Corporation upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. Equity Residential currently has a consensus rating of “Hold” and an average target price of $68.21.
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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.
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