Equity Residential (NYSE:EQR) Lowered to “Underperform” at Robert W. Baird

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Robert W. Baird downgraded shares of Equity Residential (NYSE:EQR) from a neutral rating to an underperform rating in a research report report published on Monday, BenzingaRatingsTable reports. Robert W. Baird currently has $81.00 price target on the real estate investment trust’s stock, up from their previous price target of $78.00.

Several other research firms have also recently issued reports on EQR. Morgan Stanley lifted their price objective on shares of Equity Residential from $79.00 to $90.00 and gave the company an equal weight rating in a research report on Friday, September 6th. ValuEngine cut shares of Equity Residential from a buy rating to a hold rating in a research report on Wednesday, October 2nd. SunTrust Banks lifted their price objective on shares of Equity Residential from $74.00 to $80.00 and gave the company a hold rating in a research report on Friday, August 23rd. Zacks Investment Research upgraded shares of Equity Residential from a hold rating to a buy rating and set a $86.00 price objective on the stock in a research report on Monday, August 12th. Finally, Barclays reiterated a hold rating and set a $87.00 price objective on shares of Equity Residential in a research report on Sunday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Equity Residential currently has a consensus rating of Hold and an average target price of $79.43.

NYSE EQR opened at $87.83 on Monday. Equity Residential has a 12 month low of $62.42 and a 12 month high of $88.49. The stock has a market cap of $32.50 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 4.24 and a beta of 0.47. The company’s 50 day moving average is $85.81 and its two-hundred day moving average is $79.62. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.88.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.02). The company had revenue of $669.37 million for the quarter, compared to the consensus estimate of $667.59 million. Equity Residential had a net margin of 28.27% and a return on equity of 7.21%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. Sell-side analysts forecast that Equity Residential will post 3.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.5675 dividend. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from Equity Residential’s previous quarterly dividend of $0.57. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.58%. Equity Residential’s dividend payout ratio (DPR) is 69.85%.

In other Equity Residential news, EVP Alan W. George sold 10,000 shares of Equity Residential stock in a transaction on Friday, August 30th. The shares were sold at an average price of $84.60, for a total transaction of $846,000.00. Following the completion of the transaction, the executive vice president now directly owns 31,280 shares of the company’s stock, valued at $2,646,288. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David J. Neithercut sold 50,000 shares of Equity Residential stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $80.24, for a total transaction of $4,012,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,876 shares of company stock valued at $15,221,779. 2.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EQR. NEXT Financial Group Inc purchased a new stake in shares of Equity Residential during the second quarter valued at $34,000. Advisory Services Network LLC boosted its stake in shares of Equity Residential by 14.9% during the second quarter. Advisory Services Network LLC now owns 3,517 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 457 shares during the period. Cibc World Markets Corp boosted its stake in shares of Equity Residential by 31.4% during the second quarter. Cibc World Markets Corp now owns 64,380 shares of the real estate investment trust’s stock valued at $4,888,000 after purchasing an additional 15,393 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of Equity Residential during the second quarter valued at $90,000. Finally, Huntington National Bank boosted its stake in shares of Equity Residential by 4.6% during the second quarter. Huntington National Bank now owns 3,700 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 163 shares during the period. 88.14% of the stock is owned by institutional investors.

Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Analyst Recommendations for Equity Residential (NYSE:EQR)

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