StockNews.com provided its readers with the first coverage of Equity Residential in an article released on Wednesday (NYSE: EVR). The brokerage firm said that the real estate investment trust shares should be “held,” which means that they should stay where they are.
A significant number of ongoing research projects have focused their attention on EQR as a topic worthy of investigation. In a research note published on Friday, June 24th, Truist Financial lowered both the “hold” rating that they had previously assigned to Equity Residential and their price target, which had been $85.00. The new target price is $79.00. In a research report made available to the public on Monday, September 19th, Mizuho decreased their price objective on Equity Residential from $79.00 to $70.00. Despite this modification; they did not alter their recommendation to “buy” the stock. Finally, in a research report published on Tuesday, October 4th, Deutsche Bank Aktiengesellschaft downgraded Equity Residential from a “hold” rating to a “sell” rating in a research report.
Deutsche Bank Aktiengesellschaft decreased their price target for the stock from $85.00 to $73.00 in the same research report that Deutsche Bank Aktiengesellschaft downgraded. In a research report published on Friday, July 29th, UBS Group changed their rating on Equity Residential from “hold” to “buy” in a research report published on Friday, July 29th. They also increased their price objective from $83.00 to $91.00. Both of these changes can be found in the report. In a research note published on Thursday, August 11th, Morgan Stanley upgraded Equity Residential from an “equal weight” rating to an “overweight” rating and raised their price target from $75 to $83. This was the last change that Morgan Stanley made to the stock. Investment analysts have provided the stock with one of three distinct ratings:
“Sell” (out of a possible one).
“Hold” (out of a possible twelve).
“Buy” (out of a possible six).
According to information from Bloomberg.com, the consensus rating for the stock is “Hold,” and the consensus price target is $81.39 per share.
NYSE: EQR shares went public on Wednesday for $63.05 per share. There is harmony between the quick, current, and debt-to-equity ratios when all three are equalized to a value of 0.24. The stock price has been moving along a simple moving average of $73.07 over the past 50 days, and it has been moving along a simple moving average of $76.46 over the last 200 days. The company has a market capitalization of $23.71 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-to-growth ratio of 2.66, and a beta coefficient of 0.84. These metrics indicate that the company is relatively expensive relative to its earnings. The stock price of Equity Residential has ranged from a low of $61.70 to a high of $94.32 over the past 52 weeks.
During the most recent period, numerous hedge funds and institutional investors engaged in buying and selling transactions involving EQR shares. During the first three months of the year, Riverview Trust Company made an initial investment in a new Equity residential stake for $32,000. During the second quarter, Allworth Financial LP accomplished a 48.2% increase in the proportion of equity residential stock that it owned. After purchasing an additional 158 of these shares during the most recent fiscal quarter, Allworth Financial LP now has a total of 486 real estate investment trust shares worth a combined $35,000. This brings the company’s total number of shares to 486. During the first three months of this year, Harel Insurance Investments and Financial Services Ltd. initiated a new stake in Equity Residential that was estimated to be worth approximately $40,000. In addition, during the first three months of 2018, MCF Advisors LLC purchased a new Equity residential stake valued at approximately $48,000. And finally, during the first quarter of this year, CVA Family Office LLC added 34.9 percentage points to the shares of Equity Residential that it held in its portfolio. CVA Family Office LLC now has 560 shares in the real estate investment trust worth $50,000 after purchasing an additional 145 shares during the most recent quarter. These 560 shares were purchased through the purchase of an additional 145 shares. The real estate investment trust is the owner of these shares of the company. Currently, a combined total of 83.92% of the company’s shares are held in ownership by hedge funds and other institutional investors.
Equity Residential is committed to developing communities that benefit the residents’ economic growth and support that growth. The S&P 500 company’s primary line of business is the acquisition, construction, and management of residential properties in and around thriving cities that cater to upscale long-term renters. These properties are rented out every month. These real estate holdings are found within and close to various cities. For example, in the cities of Boston, New York, Washington, DC, Seattle, San Francisco, Southern California, and Denver, Equity Residential owns or has a stake in a total of 78,568 apartment units distributed across 305 different properties. These places are found in the United States of America.
Source: beststocks.com
