Equity One Inc. (EQY) Stock Rating Upgraded by Zacks Investment Research
Equity One Inc. (NYSE:EQY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $33.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s price objective indicates a potential upside of 12.47% from the stock’s current price.
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 subject of several other reports. Barclays PLC restated a “sell” rating on shares of Equity One in a report on Friday, August 19th. BTIG Research initiated coverage on Equity One in a report on Thursday, August 25th. They issued a “neutral” rating for the company. Deutsche Bank AG lifted their price objective on Equity One from $29.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, August 17th. Citigroup Inc. lifted their price objective on Equity One from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Finally, Stifel Nicolaus downgraded Equity One from a “buy” rating to a “hold” rating in a report on Monday, August 15th. One research 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.29.
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Shares of Equity One (NYSE:EQY) traded up 0.27% during mid-day trading on Tuesday, hitting $29.34. 279,290 shares of the stock were exchanged. The stock has a market cap of $4.22 billion, a PE ratio of 54.43 and a beta of 0.75. Equity One has a 12 month low of $25.02 and a 12 month high of $33.46. The stock’s 50 day moving average is $30.27 and its 200-day moving average is $30.33.
Equity One (NYSE:EQY) last released its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the 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 business earned $92.53 million during the quarter, compared to the consensus estimate of $93.46 million. During the same period last year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Equity One will post $1.39 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued 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 yield of 3.00%. Equity One’s dividend payout ratio is presently 166.04%.
In other news, President Thomas Caputo sold 366,500 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $30.97, for a total transaction of $11,350,505.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 35.90% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Daiwa Securities Group Inc. raised its stake in shares of 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 last quarter. Advisor Group Inc. acquired a new stake in shares of Equity One during the second quarter worth $122,000. Bank of Montreal Can acquired a new stake in shares of Equity One during the second quarter worth $150,000. BlackRock Japan Co. Ltd raised its stake in shares of 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 last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of 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 last quarter. Institutional investors and hedge funds 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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