Equity Residential (NYSE:EQR) Receives Consensus Recommendation of “Hold” from Analysts
Equity Residential (NYSE:EQR) has earned a consensus rating of “Hold” from the sixteen brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $68.00.
EQR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Barclays PLC restated an “equal weight” rating and issued a $64.00 target price (up previously from $62.00) on shares of Equity Residential in a research report on Wednesday, April 19th. Evercore ISI raised their target price on shares of Equity Residential from $62.00 to $63.00 and gave the company an “underperform” rating in a research report on Wednesday, April 19th. Cantor Fitzgerald restated a “hold” rating and issued a $63.00 target price on shares of Equity Residential in a research report on Wednesday, April 26th. Finally, Argus set a $75.00 target price on shares of Equity Residential and gave the company a “buy” rating in a research report on Thursday, April 27th.
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In other news, Director Mark S. Shapiro sold 2,853 shares of Equity Residential stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $67.30, for a total transaction of $192,006.90. Following the transaction, the director now owns 2,573 shares in the company, valued at $173,162.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael L. Manelis sold 1,000 shares of Equity Residential stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total transaction of $65,630.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,124 shares of company stock worth $3,945,054. 3.79% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 872 shares during the period. Financial Architects Inc raised its position in shares of Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 94 shares during the period. D.A. Davidson & CO. raised its position in shares of Equity Residential by 4.1% in the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 73 shares during the period. Delta Asset Management LLC TN raised its position in shares of Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 57 shares during the period. Finally, Girard Partners LTD. acquired a new position in shares of Equity Residential during the second quarter worth approximately $209,000. Institutional investors own 92.39% of the company’s stock.
Equity Residential (NYSE:EQR) traded down 0.39% on Friday, reaching $66.82. The company’s stock had a trading volume of 814,262 shares. The firm’s 50 day moving average is $66.58 and its 200-day moving average is $64.48. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The firm has a market cap of $24.54 billion, a P/E ratio of 29.90 and a beta of 0.34.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The firm had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. During the same quarter last year, the business posted $0.76 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Equity Residential will post $1.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were issued a dividend of $0.5038 per share. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.00%. Equity Residential’s dividend payout ratio (DPR) is presently 90.58%.
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.
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