Shares of Equity Residential (NYSE:EQR) have earned an average rating of “Hold” from the fourteen research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $83.27.
EQR has been the subject of a number of research analyst reports. SunTrust Banks set a $82.00 price target on Equity Residential and gave the company a “hold” rating in a report on Friday, October 25th. Morgan Stanley boosted their price target on Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Argus boosted their price target on Equity Residential from $92.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays reiterated a “hold” rating and issued a $87.00 price target on shares of Equity Residential in a report on Sunday, October 13th. Finally, ValuEngine downgraded Equity Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.
In related news, Director David J. Neithercut sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $83.00, for a total transaction of $4,150,000.00. Following the completion of the transaction, the director now directly owns 3,392 shares in the company, valued at approximately $281,536. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alan W. George sold 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $84.60, for a total value of $846,000.00. Following the transaction, the executive vice president now owns 31,280 shares of the company’s stock, valued at $2,646,288. The disclosure for this sale can be found here. Insiders sold a total of 104,945 shares of company stock valued at $8,882,681 over the last quarter. Company insiders own 3.75% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc acquired a new position in Equity Residential during the 2nd quarter worth $34,000. Cutler Group LP boosted its position in Equity Residential by 105.0% during the 3rd quarter. Cutler Group LP now owns 414 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 8,767 shares during the period. Trustcore Financial Services LLC acquired a new position in Equity Residential during the 2nd quarter worth $40,000. LLBH Private Wealth Management LLC acquired a new position in Equity Residential during the 2nd quarter worth $51,000. Finally, CSat Investment Advisory L.P. boosted its position in Equity Residential by 362.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 666 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 522 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.
EQR stock traded up $0.68 during midday trading on Thursday, hitting $86.46. 995,783 shares of the company’s stock were exchanged, compared to its average volume of 1,443,214. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.87. Equity Residential has a 12-month low of $63.17 and a 12-month high of $89.55. The firm has a 50 day moving average price of $86.96 and a 200-day moving average price of $81.35. The stock has a market capitalization of $31.85 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 4.04 and a beta of 0.44.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.17). Equity Residential had a return on equity of 7.73% and a net margin of 29.88%. The business had revenue of $685.15 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equity Residential’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Equity Residential will post 3.47 EPS for the current fiscal year.
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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