Equity Residential (NYSE:EQR) Given Average Rating of “Hold” by Brokerages

Shares of Equity Residential (NYSE:EQR) have been assigned a consensus rating of “Hold” from the twenty-three research firms that are covering the firm, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $71.40.

Several research analysts have weighed in on the stock. Bank of America raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, May 27th. BNP Paribas Exane upped their price objective on shares of Equity Residential from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Wolfe Research raised shares of Equity Residential from a “hold” rating to an “outperform” rating in a research report on Monday, June 1st. Evercore lifted their target price on shares of Equity Residential from $70.00 to $71.00 in a report on Monday, June 8th. Finally, UBS Group boosted their target price on Equity Residential from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, May 14th.

Equity Residential Price Performance

NYSE:EQR opened at $63.68 on Monday. Equity Residential has a 52 week low of $57.57 and a 52 week high of $71.50. The stock’s fifty day moving average is $66.96 and its two-hundred day moving average is $64.61. The company has a market capitalization of $23.88 billion, a P/E ratio of 27.69, a P/E/G ratio of 5.53 and a beta of 0.73. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.77.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $785.05 million during the quarter, compared to analysts’ expectations of $787.28 million. Equity Residential had a return on equity of 8.06% and a net margin of 27.97%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. Equities analysts expect that Equity Residential will post 4.08 EPS for the current year.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 29th were issued a $0.7025 dividend. This represents a $2.81 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, June 29th. Equity Residential’s payout ratio is currently 122.17%.

Hedge Funds Weigh In On Equity Residential

A number of hedge funds and other institutional investors have recently bought and sold shares of EQR. Wolverine Asset Management LLC purchased a new stake in shares of Equity Residential in the 4th quarter valued at approximately $1,964,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Equity Residential by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,016,454 shares of the real estate investment trust’s stock worth $63,051,000 after purchasing an additional 55,786 shares during the last quarter. Vestcor Inc grew its stake in shares of Equity Residential by 1,432.1% during the fourth quarter. Vestcor Inc now owns 114,325 shares of the real estate investment trust’s stock worth $7,207,000 after purchasing an additional 106,863 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Equity Residential by 233.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 832,789 shares of the real estate investment trust’s stock valued at $49,259,000 after buying an additional 583,231 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Equity Residential by 26.7% in the fourth quarter. Hsbc Holdings PLC now owns 1,475,500 shares of the real estate investment trust’s stock valued at $93,079,000 after buying an additional 310,859 shares in the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

About Equity Residential

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.