FY2017 EPS Estimates for Equity Residential (EQR) Increased by Cantor Fitzgerald
Equity Residential (NYSE:EQR) – Equities research analysts at Cantor Fitzgerald upped their FY2017 earnings per share (EPS) estimates for Equity Residential in a research note issued on Monday. Cantor Fitzgerald analyst G. Mehta now expects that the real estate investment trust will earn $3.15 per share for the year, up from their previous estimate of $3.13.
Several other brokerages have also issued reports on EQR. Stifel Nicolaus started coverage on shares of Equity Residential in a research note on Friday, September 1st. They issued a “hold” rating and a $71.00 target price on the stock. Barclays PLC raised their target price on shares of Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. TheStreet lowered shares of Equity Residential from a “b” rating to a “c+” rating in a research note on Tuesday, October 24th. SunTrust Banks, Inc. set a $71.00 target price on shares of Equity Residential and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $68.00 target price on shares of Equity Residential in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Equity Residential presently has a consensus rating of “Hold” and a consensus price target of $68.36.
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Shares of Equity Residential (NYSE EQR) opened at 67.02 on Tuesday. The company has a 50 day moving average of $66.68 and a 200-day moving average of $66.42. Equity Residential has a 12-month low of $58.28 and a 12-month high of $68.83. The company has a market capitalization of $24.62 billion, a P/E ratio of 29.99 and a beta of 0.37.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, September 25th were issued a $0.5038 dividend. The ex-dividend date was Friday, September 22nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.01%. Equity Residential’s dividend payout ratio (DPR) is presently 99.02%.
In other news, CEO David J. Neithercut sold 75,000 shares of Equity Residential stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $68.10, for a total value of $5,107,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael L. Manelis sold 433 shares of Equity Residential stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $29,023.99. The disclosure for this sale can be found here. Insiders sold 173,622 shares of company stock worth $11,816,599 over the last quarter. 3.79% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of EQR. KCG Holdings Inc. acquired a new stake in shares of Equity Residential in the first quarter valued at approximately $712,000. Tudor Investment Corp ET AL acquired a new stake in shares of Equity Residential in the first quarter valued at approximately $816,000. Xact Kapitalforvaltning AB raised its holdings in shares of Equity Residential by 2.7% in the second quarter. Xact Kapitalforvaltning AB now owns 45,070 shares of the real estate investment trust’s stock valued at $2,967,000 after purchasing an additional 1,192 shares during the last quarter. National Pension Service raised its holdings in shares of Equity Residential by 14.4% in the second quarter. National Pension Service now owns 362,574 shares of the real estate investment trust’s stock valued at $24,039,000 after purchasing an additional 45,621 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of Equity Residential by 525.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 61,036 shares of the real estate investment trust’s stock valued at $4,018,000 after purchasing an additional 51,284 shares during the last quarter. Institutional investors own 90.94% 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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