Equity Residential (NYSE:EQR)‘s stock had its “hold” rating reiterated by analysts at Citigroup Inc. in a research report issued on Friday. They presently have a $69.00 target price on the real estate investment trust’s stock. Citigroup Inc.’s price target points to a potential upside of 9.37% from the company’s previous close.
Several other brokerages have also issued reports on EQR. Jefferies Group reaffirmed a “hold” rating on shares of Equity Residential in a report on Wednesday, July 6th. Royal Bank Of Canada dropped their price objective 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. Raymond James Financial Inc. lowered Equity Residential from a “market perform” rating to an “underperform” rating in a report on Wednesday, August 3rd. Cantor Fitzgerald lowered Equity Residential from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $68.00 in a report on Thursday, July 28th. Finally, Zacks Investment Research raised Equity Residential from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $72.53.
Shares of Equity Residential (NYSE:EQR) opened at 63.09 on Friday. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 5.50 and a beta of 0.49. The firm’s 50-day moving average price is $64.78 and its 200 day moving average price is $68.11. Equity Residential has a 1-year low of $62.39 and a 1-year high of $82.39.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data 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 had revenue of $595.20 million for the quarter, compared to analysts’ expectations of $609.82 million. Equity Residential had a return on equity of 38.79% and a net margin of 160.96%. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. Equities research analysts expect that Equity Residential will post $3.08 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Friday, October 14th. Investors of record on Monday, September 26th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a dividend yield of 3.17%. Equity Residential’s dividend payout ratio is currently 17.67%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Equity Residential during the second quarter valued at about $1,017,000. Kentucky Retirement Systems bought a new position in shares of Equity Residential during the second quarter valued at about $2,141,000. Mason Street Advisors LLC bought a new position in shares of Equity Residential during the second quarter valued at about $3,391,000. Wolverine Asset Management LLC increased its position in shares of Equity Residential by 318.9% in the second quarter. Wolverine Asset Management LLC now owns 6,241 shares of the real estate investment trust’s stock valued at $429,000 after buying an additional 4,751 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Equity Residential by 1,013.2% in the second quarter. Royal Bank of Canada now owns 334,730 shares of the real estate investment trust’s stock valued at $23,056,000 after buying an additional 304,660 shares in the last quarter. Hedge funds and other institutional investors own 94.18% of the company’s stock.
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.
Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.