Equity Residential (NYSE:EQR) Downgraded by Evercore ISI

Evercore ISI cut shares of Equity Residential (NYSE:EQRFree Report) from an outperform rating to an in-line rating in a report issued on Monday, MarketBeat.com reports. They currently have $70.00 price target on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Equity Residential from $65.00 to $66.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Mizuho lowered their target price on Equity Residential from $62.00 to $61.00 and set a neutral rating for the company in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Equity Residential in a report on Tuesday, January 30th. They set a hold rating and a $64.00 price target on the stock. Wedbush reiterated a neutral rating and issued a $68.00 price objective on shares of Equity Residential in a research note on Monday, April 29th. Finally, Raymond James raised shares of Equity Residential from an underperform rating to a market perform rating in a research note on Monday, March 18th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $68.22.

Read Our Latest Research Report on Equity Residential

Equity Residential Stock Up 0.3 %

NYSE EQR opened at $67.57 on Monday. The stock has a market capitalization of $25.65 billion, a PE ratio of 28.04, a PEG ratio of 3.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.23. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45. The business has a fifty day moving average price of $63.32 and a two-hundred day moving average price of $60.53.

Equity Residential (NYSE:EQRGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The firm had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. During the same period last year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts expect that Equity Residential will post 3.87 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Friday, March 22nd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

Insider Buying and Selling

In other Equity Residential news, EVP Alexander Brackenridge sold 4,027 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the transaction, the executive vice president now directly owns 69,901 shares in the company, valued at approximately $4,544,264.01. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Alexander Brackenridge sold 4,027 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total value of $261,795.27. Following the transaction, the executive vice president now owns 69,901 shares in the company, valued at approximately $4,544,264.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Kay Haben sold 3,241 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $65.48, for a total value of $212,220.68. Following the sale, the director now directly owns 9,720 shares of the company’s stock, valued at $636,465.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equity Residential

A number of hedge funds have recently made changes to their positions in EQR. Bamco Inc. NY increased its holdings in Equity Residential by 3.3% during the first quarter. Bamco Inc. NY now owns 582,918 shares of the real estate investment trust’s stock worth $36,788,000 after buying an additional 18,489 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Equity Residential by 1.9% during 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 during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Equity Residential by 0.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,941,360 shares of the real estate investment trust’s stock worth $311,849,000 after purchasing an additional 34,000 shares during the period. Vident Advisory LLC lifted its stake in Equity Residential by 12.6% in the first quarter. Vident Advisory LLC now owns 72,628 shares of the real estate investment trust’s stock valued at $4,584,000 after purchasing an additional 8,122 shares during the last quarter. Finally, Castle Hook Partners LP bought a new position in Equity Residential during the first quarter valued at $2,027,000. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Equity Residential (NYSE:EQR)

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