UBS Group Has Lowered Expectations for Equity Residential (NYSE:EQR) Stock Price

Equity Residential (NYSE:EQR - Get Free Report) had its price target lowered by UBS Group from $84.00 to $76.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. UBS Group's price target would indicate a potential upside of 13.65% from the stock's previous close.

EQR has been the subject of a number of other reports. Mizuho decreased their price target on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Wedbush restated a "neutral" rating and set a $75.00 price target on shares of Equity Residential in a report on Wednesday, May 28th. Scotiabank decreased their price target on shares of Equity Residential from $82.00 to $78.00 and set a "sector perform" rating for the company in a report on Friday, June 13th. Evercore ISI upgraded shares of Equity Residential from an "in-line" rating to an "outperform" rating and upped their price target for the company from $74.00 to $75.00 in a report on Monday, July 7th. Finally, Royal Bank Of Canada upped their price target 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. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Equity Residential presently has a consensus rating of "Moderate Buy" and an average target price of $78.81.

Equity Residential Price Performance

Shares of NYSE EQR traded up $0.74 during trading on Tuesday, hitting $66.87. The company had a trading volume of 605,688 shares, compared to its average volume of 1,758,474. The company has a market cap of $25.41 billion, a P/E ratio of 25.57, a PEG ratio of 3.47 and a beta of 0.88. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.84. The business's 50-day moving average is $68.58 and its 200 day moving average is $69.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.20 and a current ratio of 0.20.

Equity Residential (NYSE:EQR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. Equity Residential had a net margin of 33.11% and a return on equity of 8.93%. The company had revenue of $760.81 million for the quarter, compared to the consensus estimate of $769.43 million. During the same period in the previous year, the business earned $0.93 EPS. The company's revenue was up 4.1% on a year-over-year basis. Equities research analysts predict that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equity Residential

Several large investors have recently modified their holdings of EQR. Steward Partners Investment Advisory LLC increased its position in shares of 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 buying an additional 288 shares during the period. Raymond James Financial Inc. bought a new position in shares of Equity Residential in the fourth quarter valued at $13,921,000. Sequoia Financial Advisors LLC lifted its stake in shares of Equity Residential by 13.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,055 shares of the real estate investment trust's stock valued at $219,000 after buying an additional 368 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Equity Residential by 1.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 25,842 shares of the real estate investment trust's stock valued at $1,854,000 after buying an additional 349 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Equity Residential by 7.0% in the fourth quarter. Natixis Advisors LLC now owns 78,886 shares of the real estate investment trust's stock valued at $5,661,000 after buying an additional 5,187 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Company Profile

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.