Equity Residential (NYSE:EQR) has earned an average recommendation of “Hold” from the twenty-four ratings firms that are covering the firm. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $71.63.
EQR has been the topic of several recent research reports. BMO Capital Markets reiterated a “buy” rating on shares of Equity Residential in a report on Wednesday, June 1st. SunTrust Banks Inc. upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, June 2nd. They noted that the move was a valuation call. Royal Bank Of Canada decreased their price target on Equity Residential from $74.00 to $72.00 and set a “sector perform” rating on the stock in a report on Thursday, June 2nd. Deutsche Bank AG reiterated a “hold” rating and issued a $73.00 price target (down previously from $74.00) on shares of Equity Residential in a report on Friday, June 3rd. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Equity Residential in a report on Saturday, June 4th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC increased its position in shares of Equity Residential by 24.1% in the first quarter. Lazard Asset Management LLC now owns 1,768 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 343 shares in the last quarter. Assetmark Inc. acquired a new position in shares of Equity Residential during the second quarter valued at approximately $146,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Equity Residential during the second quarter valued at approximately $165,000. Invictus RG acquired a new position in shares of Equity Residential during the second quarter valued at approximately $224,000. Finally, Lebenthal Holdings LLC increased its position in shares of Equity Residential by 3.3% in the second quarter. Lebenthal Holdings LLC now owns 3,312 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 107 shares in the last quarter. 94.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Equity Residential (NYSE:EQR) opened at 64.44 on Wednesday. The company has a market cap of $23.56 billion, a PE ratio of 5.62 and a beta of 0.64. Equity Residential has a 52 week low of $62.39 and a 52 week high of $82.39. The company has a 50 day moving average price of $65.28 and a 200 day moving average price of $68.51.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by $0.02. The firm earned $595.20 million during the quarter, compared to the consensus estimate of $609.82 million. Equity Residential had a net margin of 160.96% and a return on equity of 38.79%. Equity Residential’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. On average, equities analysts expect that Equity Residential will post $3.08 earnings per share for the current year.
The business also recently declared a special dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be given a dividend of $3.00 per share. This represents a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, September 22nd. Equity Residential’s dividend payout ratio (DPR) is 17.67%.
Equity Residential Company Profile
Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.
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