Equity Residential Receives “Neutral” Rating from Citigroup Inc. (EQR)
Equity Residential (NYSE:EQR)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a research note issued on Monday. They currently have a $66.00 price target on the stock, up from their previous price target of $57.00. Citigroup Inc.’s price objective would indicate a potential upside of 6.31% from the stock’s previous close.
Shares of Equity Residential (NYSE:EQR) traded up 0.23% on Monday, hitting $62.22. The stock had a trading volume of 685,097 shares. Equity Residential has a 52-week low of $50.08 and a 52-week high of $63.25. The stock has a 50-day moving average of $61.58 and a 200-day moving average of $57.51. The company has a market cap of $22.474 billion and a P/E ratio of 25.17.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.71 by $0.61. The company had revenue of $633.44 million for the quarter, compared to the consensus estimate of $635.84 million. Analysts expect that Equity Residential will post $3.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 11th. Investors of record on Monday, June 23rd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, June 19th.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Equity Residential from $61.00 to $62.00 in a research note on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Equity Residential from $49.00 to $56.00 in a research note on Thursday, May 15th. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Equity Residential in a research note on Tuesday, May 6th. They now have a $63.00 price target on the stock, up previously from $62.00. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $59.46.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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