Equity Residential (EQR) Declares $0.66 Dividend
Equity Residential said on March 16, 2023 that its board of directors declared a regular quarterly dividend of $0.66 per share ($2.65 annualized). Previously, the company paid $0.62 per share.
Shares must be purchased before the ex-div date of March 24, 2023 to qualify for the dividend. Shareholders of record as of March 27, 2023 will receive the payment on April 14, 2023.
At the current share price of $57.58 / share, the stock's dividend yield is 4.60%. Looking back five years and taking a sample every week, the average dividend yield has been 3.34%, the lowest has been 2.56%, and the highest has been 4.89%. The standard deviation of yields is 0.55 (n=237).
The current dividend yield is 2.30 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.04%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 22.76% Upside
As of March 17, 2023, the average one-year price target for Equity Residential is $70.69. The forecasts range from a low of $58.58 to a high of $99.75. The average price target represents an increase of 22.76% from its latest reported closing price of $57.58.
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The projected annual revenue for Equity Residential is $2,909MM, an increase of 6.35%. The projected annual non-GAAP EPS is $1.61.
What is the Fund Sentiment?
There are 1331 funds or institutions reporting positions in Equity Residential. This is a decrease of 25 owner(s) or 1.84% in the last quarter. Average portfolio weight of all funds dedicated to EQR is 0.43%, a decrease of 5.66%. Total shares owned by institutions increased in the last three months by 0.85% to 378,441K shares. The put/call ratio of EQR is 1.06, indicating a bearish outlook.
What are Large Shareholders Doing?
Norges Bank holds 30,887K shares representing 8.16% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Price T Rowe Associates holds 16,648K shares representing 4.40% ownership of the company. In it's prior filing, the firm reported owning 18,438K shares, representing a decrease of 10.75%. The firm decreased its portfolio allocation in EQR by 22.27% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 15,598K shares representing 4.12% ownership of the company. In it's prior filing, the firm reported owning 15,778K shares, representing a decrease of 1.15%. The firm decreased its portfolio allocation in EQR by 4.29% over the last quarter.
APG Asset Management US holds 11,838K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 11,846K shares, representing a decrease of 0.07%. The firm decreased its portfolio allocation in EQR by 13.13% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,910K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 10,655K shares, representing an increase of 2.33%. The firm decreased its portfolio allocation in EQR by 17.01% over the last quarter.
Equity Residential Properties Trust Background Information
(This description is provided by the company.)
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 rental apartment properties located in urban and high-density suburban communities where today’s renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 77,889 apartment units, located in Boston, New York, Washington, D.C., Seattle, San Francisco, Southern California and Denver.
This story originally appeared on Fintel.