Fintel reports that on September 26, 2023, Mizuho maintained coverage of Equity Residential Properties Trust (NYSE:EQR) with a Buy recommendation.
Analyst Price Forecast Suggests 24.70% Upside
As of August 31, 2023, the average one-year price target for Equity Residential Properties Trust is 73.95. The forecasts range from a low of 62.62 to a high of $99.75. The average price target represents an increase of 24.70% from its latest reported closing price of 59.30.
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The projected annual revenue for Equity Residential Properties Trust is 2,909MM, an increase of 3.26%. The projected annual non-GAAP EPS is 1.61.
Equity Residential Properties Trust Declares $0.66 Dividend
On September 15, 2023 the company declared a regular quarterly dividend of $0.66 per share ($2.65 annualized). Shareholders of record as of September 26, 2023 will receive the payment on October 13, 2023. Previously, the company paid $0.66 per share.
At the current share price of $59.30 / share, the stock's dividend yield is 4.47%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.42%, the lowest has been 2.56%, and the highest has been 4.89%. The standard deviation of yields is 0.60 (n=236).
The current dividend yield is 1.74 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.21. 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 0.10%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1306 funds or institutions reporting positions in Equity Residential Properties Trust. This is an increase of 8 owner(s) or 0.62% in the last quarter. Average portfolio weight of all funds dedicated to EQR is 0.42%, an increase of 3.61%. Total shares owned by institutions increased in the last three months by 1.78% to 353,418K shares. 
The put/call ratio of EQR is 1.00, indicating a bearish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 18,386K shares representing 4.85% ownership of the company. In it's prior filing, the firm reported owning 18,063K shares, representing an increase of 1.76%. The firm increased its portfolio allocation in EQR by 135.03% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 15,178K shares representing 4.00% ownership of the company. In it's prior filing, the firm reported owning 15,335K shares, representing a decrease of 1.03%. The firm increased its portfolio allocation in EQR by 8.99% over the last quarter.
APG Asset Management US holds 11,698K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 11,698K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in EQR by 7.57% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 11,230K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 11,134K shares, representing an increase of 0.86%. The firm increased its portfolio allocation in EQR by 2.32% over the last quarter.
Jpmorgan Chase holds 10,739K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 6,461K shares, representing an increase of 39.84%. The firm increased its portfolio allocation in EQR by 1,198.28% 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.
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