Equity Residential (NYSE:EQR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the sixteen research firms that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $79.69.
EQR has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on Equity Residential from $82.25 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Evercore ISI increased their price objective on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Scotiabank increased their target price on shares of Equity Residential from $79.00 to $82.00 and gave the company a "sector perform" rating in a report on Monday. Royal Bank of Canada increased their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 24th.
Read Our Latest Stock Analysis on Equity Residential
Equity Residential Stock Performance
Shares of NYSE:EQR traded up $1.76 on Tuesday, reaching $70.82. The company's stock had a trading volume of 1,772,847 shares, compared to its average volume of 1,715,839. The stock's 50-day moving average is $68.84 and its two-hundred day moving average is $70.90. Equity Residential has a 52-week low of $59.41 and a 52-week high of $78.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $26.91 billion, a P/E ratio of 26.04, a PEG ratio of 3.99 and a beta of 0.89.
Equity Residential (NYSE:EQR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.02. The firm had revenue of $760.81 million during the quarter, compared to the consensus estimate of $769.43 million. Equity Residential had a net margin of 34.76% and a return on equity of 9.27%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. As a group, sell-side analysts forecast that Equity Residential will post 3.98 EPS for the current year.
Equity Residential Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 31st were given a dividend of $0.6925 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.77 dividend on an annualized basis and a yield of 3.91%. This is a positive change from Equity Residential's previous quarterly dividend of $0.68. Equity Residential's dividend payout ratio (DPR) is 105.73%.
Institutional Trading of Equity Residential
Hedge funds have recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its position in Equity Residential by 607.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Equity Residential during the third quarter worth approximately $29,000. Versant Capital Management Inc raised its stake in Equity Residential by 51.6% during the first quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 157 shares during the period. GKV Capital Management Co. Inc. purchased a new position in Equity Residential during the first quarter worth approximately $37,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Equity Residential by 109.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 92.68% of the company's stock.
About Equity Residential
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Get Free ReportEquity 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.
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