Shares of Equity Residential (NYSE:EQR) have received an average recommendation of “Hold” from the eighteen analysts that are covering the company. Three investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $68.32.
A number of research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Cantor Fitzgerald reiterated a “hold” rating and issued a $63.00 price objective on shares of Equity Residential in a research report on Wednesday, February 15th. Barclays PLC reiterated an “equal weight” rating and issued a $64.00 price objective (up previously from $62.00) on shares of Equity Residential in a research report on Wednesday. Finally, Evercore ISI downgraded shares of Equity Residential from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd.
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Shares of Equity Residential (NYSE:EQR) traded up 0.02% during mid-day trading on Tuesday, reaching $64.41. The company had a trading volume of 539,047 shares. Equity Residential has a one year low of $58.28 and a one year high of $73.05. The company has a market capitalization of $23.64 billion, a price-to-earnings ratio of 5.52 and a beta of 0.32. The company has a 50 day moving average price of $62.98 and a 200 day moving average price of $62.11.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, January 31st. The real estate investment trust reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The business earned $605.50 million during the quarter, compared to the consensus estimate of $605.84 million. Equity Residential had a net margin of 176.91% and a return on equity of 40.11%. The company’s revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.93 earnings per share. On average, analysts anticipate that Equity Residential will post $1.27 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Monday, March 27th were paid a $0.5038 dividend. The ex-dividend date was Thursday, March 23rd. This represents a $2.02 annualized dividend and a dividend yield of 3.13%. Equity Residential’s dividend payout ratio (DPR) is 17.32%.
In other news, insider David S. Santee sold 5,633 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $60.46, for a total value of $340,571.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael L. Manelis sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $61.35, for a total transaction of $92,025.00. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Several institutional investors have recently modified their holdings of EQR. Cornerstone Advisors Inc. raised its position in shares of Equity Residential by 22.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,604 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 297 shares in the last quarter. Crow Point Partners LLC bought a new position in shares of Equity Residential during the third quarter valued at approximately $106,000. Integrated Investment Consultants LLC bought a new position in shares of Equity Residential during the first quarter valued at approximately $129,000. Harvest Fund Management Co. Ltd bought a new position in shares of Equity Residential during the fourth quarter valued at approximately $187,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Equity Residential during the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 96.62% 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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