Equity Residential (NYSE:EQR – Get Rating) had its price target decreased by Truist Financial from $85.00 to $79.00 in a report released on Friday, The Fly reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.
A number of other equities analysts have also recently commented on EQR. Deutsche Bank Aktiengesellschaft decreased their price target on Equity Residential from $94.00 to $93.00 and set a hold rating on the stock in a research note on Thursday, March 24th. TheStreet cut Equity Residential from a b rating to a c+ rating in a research note on Friday, May 6th. Royal Bank of Canada raised Equity Residential from a sector perform rating to an outperform rating and decreased their price target for the stock from $95.00 to $79.00 in a research note on Wednesday. Scotiabank cut their price objective on Equity Residential from $92.00 to $90.00 in a research report on Thursday, May 19th. Finally, Morgan Stanley cut their price objective on Equity Residential from $86.50 to $78.50 and set an equal weight rating on the stock in a research report on Wednesday, May 25th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $86.63.
Shares of NYSE EQR opened at $71.82 on Friday. The stock has a market cap of $27.01 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 3.14 and a beta of 0.82. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.74. Equity Residential has a 1-year low of $67.48 and a 1-year high of $94.32. The stock’s 50-day moving average is $77.33 and its 200 day moving average is $84.70.
Equity Residential (NYSE:EQR – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.61). Equity Residential had a return on equity of 12.35% and a net margin of 53.42%. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, analysts forecast that Equity Residential will post 3.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Monday, June 27th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, June 24th. Equity Residential’s dividend payout ratio (DPR) is 69.83%.
In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of the business’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $70.10, for a total value of $467,216.50. Following the sale, the director now directly owns 12,497 shares of the company’s stock, valued at $876,039.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in EQR. LPL Financial LLC boosted its holdings in Equity Residential by 5.7% in the third quarter. LPL Financial LLC now owns 43,757 shares of the real estate investment trust’s stock worth $3,541,000 after acquiring an additional 2,350 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Equity Residential by 15.5% in the third quarter. Cetera Advisors LLC now owns 27,873 shares of the real estate investment trust’s stock worth $2,255,000 after purchasing an additional 3,745 shares during the last quarter. National Pension Service raised its stake in shares of Equity Residential by 16.7% in the third quarter. National Pension Service now owns 563,704 shares of the real estate investment trust’s stock worth $45,615,000 after purchasing an additional 80,684 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of Equity Residential in the third quarter worth $11,277,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Equity Residential by 0.9% in the third quarter. UBS Asset Management Americas Inc. now owns 3,122,087 shares of the real estate investment trust’s stock worth $252,639,000 after purchasing an additional 28,440 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
About Equity Residential (Get Rating)
Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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