Equity Residential (NYSE:EQR) had its target price increased by Argus to $84.00 in a research report report published on Thursday morning, The Fly reports. The firm currently has a buy rating on the real estate investment trust’s stock.
A number of other equities analysts also recently issued reports on the company. Barclays increased their price target on Equity Residential from $73.00 to $74.00 and gave the stock an equal weight rating in a research report on Thursday, April 11th. Raymond James upgraded Equity Residential from an underperform rating to a market perform rating and set a $75.74 price target on the stock in a research report on Thursday, April 11th. Zacks Investment Research downgraded Equity Residential from a hold rating to a sell rating in a research report on Monday, April 1st. Evercore ISI downgraded Equity Residential from an in-line rating to an underperform rating in a research report on Monday, April 1st. Finally, BMO Capital Markets reiterated a hold rating and set a $78.00 price target on shares of Equity Residential in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Equity Residential currently has a consensus rating of Hold and a consensus price target of $72.77.
Shares of EQR opened at $77.11 on Thursday. Equity Residential has a 52 week low of $60.58 and a 52 week high of $77.69. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $28.29 billion, a PE ratio of 23.73, a P/E/G ratio of 3.80 and a beta of 0.58.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.53). Equity Residential had a return on equity of 5.31% and a net margin of 21.10%. The company had revenue of $662.30 million during the quarter, compared to analysts’ expectations of $655.00 million. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts predict that Equity Residential will post 3.4 EPS for the current fiscal year.
In other Equity Residential news, Director David J. Neithercut sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $74.52, for a total transaction of $3,726,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark J. Parrell sold 59,385 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $76.60, for a total value of $4,548,891.00. Following the transaction, the chief executive officer now directly owns 79,782 shares of the company’s stock, valued at approximately $6,111,301.20. The disclosure for this sale can be found here. Insiders have sold 228,346 shares of company stock valued at $17,282,589 in the last three months. Insiders own 3.75% of the company’s stock.
Several institutional investors have recently made changes to their positions in EQR. Strs Ohio raised its holdings in shares of Equity Residential by 5.7% during the fourth quarter. Strs Ohio now owns 656,078 shares of the real estate investment trust’s stock valued at $43,307,000 after acquiring an additional 35,383 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Equity Residential in the fourth quarter valued at approximately $1,129,000. IFM Investors Pty Ltd increased its holdings in shares of Equity Residential by 11.3% in the fourth quarter. IFM Investors Pty Ltd now owns 20,959 shares of the real estate investment trust’s stock valued at $1,384,000 after purchasing an additional 2,126 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Equity Residential by 2.5% in the fourth quarter. Sumitomo Life Insurance Co. now owns 19,551 shares of the real estate investment trust’s stock valued at $1,291,000 after purchasing an additional 480 shares during the last quarter. Finally, Manning & Napier Group LLC increased its holdings in shares of Equity Residential by 8.2% in the fourth quarter. Manning & Napier Group LLC now owns 180,775 shares of the real estate investment trust’s stock valued at $11,931,000 after purchasing an additional 13,670 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.
About Equity Residential
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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