Equity Residential (NYSE:EQR) Receives Consensus Rating of “Hold” from Analysts
Shares of Equity Residential (NYSE:EQR) have earned an average rating of “Hold” from the twenty-four research firms that are currently covering the firm. Six equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $71.63.
A number of research analysts recently commented on the company. Citigroup Inc. cut Equity Residential from a “market perform” rating to an “underperform” rating in a research report on Wednesday, August 3rd. Deutsche Bank AG reiterated a “hold” rating and issued a $73.00 target price (down previously from $74.00) on shares of Equity Residential in a research report on Friday, June 3rd. Jefferies Group reiterated a “hold” rating and issued a $62.00 target price on shares of Equity Residential in a research report on Wednesday, July 27th. Cantor Fitzgerald reiterated a “buy” rating on shares of Equity Residential in a research report on Saturday, June 4th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Equity Residential in a research report on Wednesday, June 1st.
Equity Residential (NYSE:EQR) traded down 0.238% on Wednesday, reaching $65.055. 2,004,815 shares of the company’s stock were exchanged. Equity Residential has a 52 week low of $62.39 and a 52 week high of $82.39. The company has a market cap of $23.78 billion, a price-to-earnings ratio of 5.676 and a beta of 0.64. The stock’s 50 day moving average is $65.42 and its 200 day moving average is $68.61.
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Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.02. Equity Residential had a return on equity of 38.79% and a net margin of 160.96%. The company earned $595.20 million during the quarter, compared to the consensus estimate of $609.82 million. During the same quarter in the previous year, the business posted $0.85 EPS. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities analysts anticipate that Equity Residential will post $3.08 earnings per share for the current year.
The business also recently declared a special dividend, which will be paid on Friday, October 14th. Investors of record on Monday, September 26th will be issued a dividend of $3.00 per share. The ex-dividend date is Thursday, September 22nd. This represents a yield of 3.17%. Equity Residential’s dividend payout ratio (DPR) is currently 17.67%.
Large investors have recently made changes to their positions in the company. Security Capital Research & Management Inc. increased its stake in shares of Equity Residential by 237.3% in the second quarter. Security Capital Research & Management Inc. now owns 4,718,407 shares of the real estate investment trust’s stock valued at $325,004,000 after buying an additional 3,319,509 shares during the period. Eaton Vance Management increased its position in shares of Equity Residential by 89.9% in the second quarter. Eaton Vance Management now owns 5,472,278 shares of the real estate investment trust’s stock worth $376,931,000 after buying an additional 2,590,731 shares during the period. Heitman Real Estate Securities LLC increased its position in shares of Equity Residential by 262.6% in the first quarter. Heitman Real Estate Securities LLC now owns 2,367,704 shares of the real estate investment trust’s stock worth $177,649,000 after buying an additional 1,714,728 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Equity Residential during the second quarter worth about $115,437,000. Finally, Lasalle Investment Management Securities LLC increased its position in shares of Equity Residential by 13.1% in the second quarter. Lasalle Investment Management Securities LLC now owns 13,337,985 shares of the real estate investment trust’s stock worth $918,720,000 after buying an additional 1,549,887 shares during the period. Institutional investors and hedge funds own 94.18% of the company’s stock.
About Equity Residential
Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.
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