Equity Residential (EQR) Earns Hold Rating from BMO Capital Markets
Equity Residential (NYSE:EQR)‘s stock had its “hold” rating reissued by BMO Capital Markets in a report issued on Wednesday. They presently have a $68.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ price target would indicate a potential upside of 1.28% from the company’s current price.
Several other equities research analysts also recently commented on EQR. UBS AG downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a research report on Thursday, July 6th. BidaskClub downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada reiterated a “hold” rating on shares of Equity Residential in a research report on Monday, July 31st. Barclays PLC increased their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus initiated coverage on shares of Equity Residential in a research report on Friday, September 1st. They issued a “hold” rating and a $71.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.36.
Shares of Equity Residential (NYSE:EQR) traded down 0.15% on Wednesday, reaching $67.04. The company’s stock had a trading volume of 639,460 shares. The stock has a 50-day moving average of $67.38 and a 200 day moving average of $65.32. The stock has a market capitalization of $24.62 billion, a PE ratio of 30.00 and a beta of 0.36. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83.
Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities analysts forecast that Equity Residential will post $1.48 EPS for the current year.
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In other news, CEO David J. Neithercut sold 49,369 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $68.02, for a total transaction of $3,358,079.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David J. Neithercut sold 75,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $68.10, for a total transaction of $5,107,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 177,650 shares of company stock worth $12,075,262 in the last 90 days. 3.79% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Equity Residential by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 52,348,375 shares of the real estate investment trust’s stock valued at $3,257,116,000 after purchasing an additional 1,140,042 shares in the last quarter. BlackRock Inc. grew its stake in Equity Residential by 2.3% in the 2nd quarter. BlackRock Inc. now owns 34,594,954 shares of the real estate investment trust’s stock valued at $2,277,386,000 after buying an additional 794,065 shares during the last quarter. State Street Corp grew its stake in Equity Residential by 1.3% in the 1st quarter. State Street Corp now owns 21,674,961 shares of the real estate investment trust’s stock valued at $1,348,617,000 after buying an additional 286,200 shares during the last quarter. APG Asset Management US Inc. grew its stake in Equity Residential by 1.8% in the 2nd quarter. APG Asset Management US Inc. now owns 15,060,400 shares of the real estate investment trust’s stock valued at $991,426,000 after buying an additional 269,599 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in Equity Residential by 7.3% in the 1st quarter. Macquarie Group Ltd. now owns 12,930,323 shares of the real estate investment trust’s stock valued at $804,524,000 after buying an additional 879,622 shares during the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.
About Equity Residential
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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