Equity Residential (NYSE:EQR) declared a quarterly dividend on Thursday, March 15th, RTT News reports. Investors of record on Monday, March 26th will be given 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 3.62%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.50.
Equity Residential has decreased its dividend payment by an average of 2.1% per year over the last three years. Equity Residential has a dividend payout ratio of 64.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Equity Residential to earn $3.37 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 59.9%.
Equity Residential (EQR) opened at $59.72 on Friday. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $21,920.82, a P/E ratio of 18.96, a P/E/G ratio of 3.13 and a beta of 0.42.
In other news, COO David S. Santee sold 5,589 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $325,168.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Fenster sold 449 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total value of $26,122.82. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock valued at $819,000 over the last three months. Corporate insiders own 3.79% of the company’s stock.
EQR has been the topic of a number of research reports. SunTrust Banks set a $69.00 price target on Equity Residential and gave the stock a “buy” rating in a research note on Monday, January 22nd. Edward Jones raised Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Mizuho set a $67.00 price target on Equity Residential and gave the stock a “buy” rating in a research note on Friday, February 9th. Cantor Fitzgerald set a $66.00 price target on Equity Residential and gave the stock a “hold” rating in a research note on Monday, February 5th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $62.00 price target on shares of Equity Residential in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $67.06.
COPYRIGHT VIOLATION WARNING: This article was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://stocknewstimes.com/2018/03/16/equity-residential-eqr-to-issue-quarterly-dividend-of-0-54.html.
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.
Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.