Equity Residential declares 12.7% annual div increase, raises 2013 div base Equity Residential announced a common share dividend for the fourth quarter of 76.75c per share that will be paid on January 11, 2013 to shareholders of record on December 21. This dividend will bring the total paid for the year to $1.78 per share, a 12.7% increase over the company's previous annual dividend of $1.58 per share. In 2013, the company intends to pay 40c per share for each of the first three quarters of the year and pay a dividend for 4Q13 that will bring the total payment for the year to approximately 65% of Normalized FFO. The 40c per share quarterly dividend is an increase from the 33.75c per share per quarter paid in the first three quarters of 2012.
Equity Residential downgraded to Equal Weight from Overweight at Barclays Barclays downgraded Equity Residential to Equal Weight citing valuation and a lack of catalysts. The firm raised its price target for shares to $82 from $75.