Equity One Inc. (EQY) Raised to Buy at Zacks Investment Research
Equity One Inc. (NYSE:EQY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $33.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price target would suggest a potential upside of 12.47% from the stock’s previous close.
According to Zacks, “Equity One, Inc. is a self-administered, self-managed real estate investment trust that principally acquires, renovates, develops and manages community and neighborhood shopping centers anchored by national and regional supermarket chains. “
EQY has been the topic of several other research reports. Barclays PLC reiterated a “sell” rating on shares of Equity One in a research note on Friday, August 19th. BTIG Research started coverage on Equity One in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Deutsche Bank AG lifted their price target on Equity One from $29.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday, August 17th. Citigroup Inc. lifted their price target on Equity One from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Finally, Stifel Nicolaus lowered Equity One from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.29.
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Equity One (NYSE:EQY) traded up 0.27% during midday trading on Tuesday, hitting $29.34. The stock had a trading volume of 279,290 shares. The company’s 50 day moving average price is $30.27 and its 200-day moving average price is $30.33. Equity One has a 52 week low of $25.02 and a 52 week high of $33.46. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 54.43 and a beta of 0.75.
Equity One (NYSE:EQY) last issued its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Equity One had a return on equity of 4.10% and a net margin of 19.85%. The company had revenue of $92.53 million for the quarter, compared to analyst estimates of $93.46 million. During the same quarter last year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts anticipate that Equity One will post $1.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.00%. Equity One’s dividend payout ratio (DPR) is presently 166.04%.
In other Equity One news, President Thomas Caputo sold 366,500 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $30.97, for a total value of $11,350,505.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 35.90% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its stake in Equity One by 3.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 100 shares during the period. Advisor Group Inc. bought a new stake in Equity One during the second quarter worth approximately $122,000. BlackRock Japan Co. Ltd raised its stake in Equity One by 23.8% in the first quarter. BlackRock Japan Co. Ltd now owns 4,783 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 921 shares during the period. Bank of Montreal Can bought a new stake in Equity One during the second quarter worth approximately $150,000. Finally, PNC Financial Services Group Inc. raised its stake in Equity One by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,078 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 64.01% of the company’s stock.
Equity One Company Profile
Equity One, Inc is a real estate investment trust (REIT). The Company owns, manages, acquires, develops and redevelops shopping centers and retail properties located in supply constrained suburban and urban communities. The Company’s property portfolio includes 90-30 Metropolitan, 1175 Third Avenue, Aventura Square, Circle Center West, Culver Center, Bird Ludlum, Greenwood, Pavilion, Sheridan Plaza, Shoppes of Silverlakes, Westport Plaza, Alafaya Village, Ryanwood, Town & Country, Plaza Escuela, Potrero, Copps Hill, Southbury Green, Clocktower Plaza, Buckhead Station, Hampton Oaks, Quincy Star Market, Elmwood Oaks, Westwood Towers, Centre Pointe Plaza and Willows Shopping Center.
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