Equity Residential Sets New 12-Month High at $63.34 (EQR)
Equity Residential (NYSE:EQR) reached a new 52-week high during mid-day trading on Friday , Analyst Ratings Network.com reports. The stock traded as high as $63.34 and last traded at $63.18, with a volume of 494,438 shares changing hands. The stock had previously closed at $62.96.
EQR has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Equity Residential in a research note on Tuesday. They now have a $65.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Equity Residential in a research note on Monday. They now have a $66.00 price target on the stock, up previously from $57.00. Finally, 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, June 20th. They now have a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.82.
The stock’s 50-day moving average is $61.74 and its 200-day moving average is $57.75. The company has a market cap of $22.850 billion and a P/E ratio of 25.53.
Equity Residential (NYSE:EQR) last announced its 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. Shareholders 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 3.18%. The ex-dividend date of this dividend is Thursday, June 19th.
In other Equity Residential news, EVP Bruce C. Strohm sold 3,381 shares of Equity Residential stock on the open market in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $63.01, for a total transaction of $213,036.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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