Equity Residential (NYSE:EQR) had its price target hoisted by Barclays PLC from $65.00 to $66.00 in a research report released on Tuesday, August 1st. Barclays PLC currently has an equal weight rating on the real estate investment trust’s stock.
Other analysts have also issued research reports about the company. BidaskClub raised Equity Residential from a hold rating to a buy rating in a research report on Tuesday, June 20th. Bank of America Corporation raised Equity Residential from a neutral rating to a buy rating and set a $75.00 price objective on the stock in a research report on Friday, June 16th. Royal Bank Of Canada reaffirmed a hold rating on shares of Equity Residential in a research report on Monday, July 31st. UBS AG lowered Equity Residential from a buy rating to a neutral rating and set a $68.00 price objective on the stock. in a research report on Thursday, July 6th. Finally, Zacks Investment Research raised Equity Residential from a hold rating to a buy rating and set a $74.00 price objective on the stock in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $67.92.
Equity Residential (NYSE:EQR) traded down 0.15% on Tuesday, reaching $66.98. The company’s stock had a trading volume of 1,260,508 shares. Equity Residential has a 52 week low of $58.28 and a 52 week high of $68.83. The firm has a market capitalization of $24.60 billion, a price-to-earnings ratio of 29.97 and a beta of 0.34. The company has a 50 day moving average of $66.58 and a 200 day moving average of $64.48.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, analysts forecast that Equity Residential will post $1.41 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were paid a dividend of $0.5038 per share. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.01%. Equity Residential’s payout ratio is currently 90.58%.
In other Equity Residential news, Director Mark S. Shapiro sold 2,853 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $67.30, for a total value of $192,006.90. Following the completion of the transaction, the director now owns 2,573 shares in the company, valued at $173,162.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael L. Manelis sold 1,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $65.63, for a total transaction of $65,630.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,124 shares of company stock valued at $3,945,054. Insiders own 3.79% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 872 shares in the last quarter. Financial Architects Inc increased its position in Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 94 shares in the last quarter. D.A. Davidson & CO. increased its position in Equity Residential by 4.1% in the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 73 shares in the last quarter. Delta Asset Management LLC TN increased its position in Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 57 shares in the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in Equity Residential during the first quarter valued at about $129,000. Institutional investors own 92.39% of the company’s stock.
Equity Residential Company Profile
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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