Equity Residential (NYSE:EQR – Get Free Report) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $66.00 to $68.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.86% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Equity Residential from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Raymond James raised shares of Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. Scotiabank increased their price target on shares of Equity Residential from $65.00 to $72.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Barclays decreased their price target on shares of Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Finally, Mizuho increased their price target on shares of Equity Residential from $61.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.09.
View Our Latest Stock Analysis on Equity Residential
Equity Residential Price Performance
NYSE:EQR traded down $0.60 during mid-day trading on Monday, hitting $66.11. The company’s stock had a trading volume of 59,650 shares, compared to its average volume of 1,999,692. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 3.81 and a beta of 0.85. The stock has a fifty day moving average of $64.88 and a 200-day moving average of $62.21.
Equity Residential (NYSE:EQR – Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. The firm had revenue of $730.80 million for the quarter, compared to analysts’ expectations of $728.09 million. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, equities analysts forecast that Equity Residential will post 3.9 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Mary Kay Haben sold 3,241 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the sale, the director now directly owns 9,720 shares in the company, valued at $636,465.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mary Kay Haben sold 3,241 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the sale, the director now directly owns 9,720 shares in the company, valued at $636,465.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alexander Brackenridge sold 4,027 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the transaction, the executive vice president now directly owns 69,901 shares of the company’s stock, valued at approximately $4,544,264.01. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Equity Residential by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 57,395,793 shares of the real estate investment trust’s stock worth $3,369,707,000 after purchasing an additional 372,181 shares in the last quarter. Norges Bank acquired a new stake in Equity Residential in the 4th quarter worth about $2,143,388,000. Price T Rowe Associates Inc. MD raised its stake in Equity Residential by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock worth $1,279,095,000 after purchasing an additional 381,236 shares in the last quarter. APG Asset Management US Inc. raised its stake in Equity Residential by 0.6% in the 4th quarter. APG Asset Management US Inc. now owns 11,598,251 shares of the real estate investment trust’s stock worth $709,349,000 after purchasing an additional 71,716 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in Equity Residential by 5.9% in the 4th quarter. First Eagle Investment Management LLC now owns 9,325,268 shares of the real estate investment trust’s stock worth $570,333,000 after purchasing an additional 516,941 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.
Equity Residential Company Profile
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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.
Featured Articles
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.
Source: defenseworld.net
