Equity Residential (EQR) Receives Consensus Rating of “Hold” from Analysts
Equity Residential (NYSE:EQR) has been given an average rating of “Hold” by the twenty ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $67.77.
EQR has been the subject of a number of research analyst reports. Evercore ISI increased their price objective on shares of Equity Residential from $62.00 to $63.00 and gave the company an “underperform” rating in a report on Wednesday, April 19th. Zacks Investment Research lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. UBS AG lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a report on Thursday, July 6th. Jefferies Group LLC reissued a “hold” rating and issued a $67.00 target price on shares of Equity Residential in a report on Monday. Finally, BMO Capital Markets restated a “hold” rating and issued a $66.00 price target on shares of Equity Residential in a research report on Thursday, May 25th.
Equity Residential (EQR) traded up 1.37% on Monday, hitting $66.36. 708,205 shares of the company’s stock were exchanged. Equity Residential has a 52-week low of $58.28 and a 52-week high of $70.75. The firm has a 50 day moving average price of $66.31 and a 200-day moving average price of $63.89. The stock has a market cap of $24.36 billion, a P/E ratio of 28.85 and a beta of 0.33.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. Equity Residential had a net margin of 35.18% and a return on equity of 7.46%. The business had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $605.69 million. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts predict that Equity Residential will post $1.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 26th were paid a dividend of $0.5038 per share. This represents a $2.02 annualized dividend and a yield of 3.08%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s payout ratio is currently 88.21%.
In related news, insider Michael L. Manelis sold 1,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total value of $65,630.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David S. Santee sold 14,028 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $67.27, for a total value of $943,663.56. The disclosure for this sale can be found here. Insiders have sold 44,871 shares of company stock valued at $2,979,034 over the last ninety days. Corporate insiders own 3.79% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in EQR. Financial Architects Inc increased its stake in shares of Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 94 shares during the period. Delta Asset Management LLC TN increased its stake in shares of Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 57 shares during the period. Integrated Investment Consultants LLC bought a new stake in shares of Equity Residential during the first quarter worth approximately $129,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Equity Residential during the first quarter worth approximately $218,000. Finally, Anchor Capital Advisors LLC increased its stake in shares of Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Equity Residential Company Profile
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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