Equity Residential (EQR) – Research Analysts’ Recent Ratings Updates

A number of research firms have changed their ratings and price targets for Equity Residential (NYSE: EQR):

  • 2/9/2018 – Equity Residential was given a new $67.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.
  • 2/5/2018 – Equity Residential was given a new $66.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock. They wrote, “Estimate Update. We are tweaking our 2018 normalized FFO/sh. estimate to $3.24 from $3.25, and lowering our NAV/sh. estimate to $69.80 from $71.40 and SS revenue estimate to 1.7% from 2.0%. Company’s 2018 rev. outlook range is 1.0-2.25%, Expenses range is 3.5-4.5% and SSNOI is 0-1.5%, and MP Normalized FFO/sh. guidance is $3.22.””
  • 2/5/2018 – Equity Residential had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $62.00 price target on the stock.
  • 2/1/2018 – Equity Residential had its price target lowered by analysts at Stifel Nicolaus from $64.00 to $60.00. They now have a “hold” rating on the stock.
  • 1/22/2018 – Equity Residential was given a new $69.00 price target on by analysts at SunTrust Banks, Inc.. They now have a “buy” rating on the stock.
  • 1/16/2018 – Equity Residential was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating.
  • 1/9/2018 – Equity Residential was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Equity Residential have outperformed its industry, in the past three months. However, this trend is unlikely to continue because there are elevated levels of new supply across the company’s markets. This high supply is anticipated to put pressure on rental rates and adversely affect revenue growth this year. Further, there is high concession activity amid higher supply, which remains another concern. Furthermore, rate hike added to its woes. Nevertheless, the company is making concerted efforts to reposition its portfolio in high barrier-to-entry/core markets. Such efforts have the capacity to drive long term growth. Also, the company is anticipated to benefit from favorable demographics, lifestyle transformation and creation of new households.”
  • 1/9/2018 – Equity Residential had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $65.00 price target on the stock.

Equity Residential (EQR) traded down $0.56 during midday trading on Monday, hitting $56.09. 1,235,387 shares of the stock were exchanged, compared to its average volume of 2,157,408. The company has a current ratio of 0.29, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86. The firm has a market cap of $20,848.23, a PE ratio of 34.41, a PEG ratio of 2.77 and a beta of 0.34. Equity Residential has a one year low of $54.97 and a one year high of $70.46.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.47). Equity Residential had a return on equity of 5.76% and a net margin of 24.39%. The business had revenue of $630.50 million for the quarter, compared to the consensus estimate of $625.83 million. During the same period in the prior year, the business posted $0.79 earnings per share. Equity Residential’s revenue was up 4.2% compared to the same quarter last year. equities analysts anticipate that Equity Residential will post 3.23 EPS for the current fiscal year.

In related news, COO David S. Santee sold 5,589 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total transaction of $325,168.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Scott Fenster sold 449 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total transaction of $26,122.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,077 shares of company stock worth $819,000. 3.79% of the stock is owned by insiders.

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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