Equity Residential (NYSE:EQR) Given Consensus Rating of “Hold” by Analysts

Equity Residential (NYSE:EQR) has been given a consensus recommendation of “Hold” by the twenty analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $71.77.

EQR has been the topic of a number of recent analyst reports. BTIG Research upped their target price on Equity Residential from $78.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, June 3rd. TheStreet downgraded Equity Residential from a “b-” rating to a “c” rating in a report on Tuesday, April 27th. Piper Sandler upgraded Equity Residential from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $54.00 to $76.00 in a report on Thursday, April 29th. Mizuho downgraded Equity Residential from a “buy” rating to a “neutral” rating and set a $86.00 price target for the company. in a report on Thursday, June 3rd. Finally, Zacks Investment Research upgraded Equity Residential from a “strong sell” rating to a “hold” rating and set a $79.00 price target for the company in a report on Wednesday, April 21st.

In other Equity Residential news, Director Linda Bynoe sold 6,665 shares of the business’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $79.96, for a total transaction of $532,933.40. Following the completion of the transaction, the director now owns 15,548 shares in the company, valued at approximately $1,243,218.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christa L. Sorenson sold 343 shares of the company’s stock in a transaction on Tuesday, March 30th. The shares were sold at an average price of $73.00, for a total value of $25,039.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,529 shares of company stock valued at $3,371,174 in the last quarter. 2.50% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Equity Residential in the fourth quarter valued at $1,708,775,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Equity Residential by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,939,314 shares of the real estate investment trust’s stock valued at $1,356,623,000 after buying an additional 2,309,890 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Equity Residential by 0.6% in the first quarter. Geode Capital Management LLC now owns 6,723,904 shares of the real estate investment trust’s stock valued at $480,491,000 after buying an additional 41,557 shares during the period. Long Pond Capital LP lifted its holdings in shares of Equity Residential by 107.3% in the fourth quarter. Long Pond Capital LP now owns 6,101,213 shares of the real estate investment trust’s stock valued at $361,680,000 after buying an additional 3,158,463 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Equity Residential by 0.4% in the first quarter. First Eagle Investment Management LLC now owns 6,069,763 shares of the real estate investment trust’s stock valued at $434,777,000 after buying an additional 24,569 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

Shares of EQR opened at $80.80 on Friday. The firm has a 50 day simple moving average of $74.68. Equity Residential has a 52-week low of $45.42 and a 52-week high of $82.05. The firm has a market cap of $30.22 billion, a price-to-earnings ratio of 45.65, a price-to-earnings-growth ratio of 8.99 and a beta of 0.77. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.16 and a current ratio of 0.16.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.53). Equity Residential had a net margin of 26.64% and a return on equity of 6.20%. On average, analysts anticipate that Equity Residential will post 2.76 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 9th. Shareholders of record on Monday, March 29th were given a dividend of $0.6025 per share. The ex-dividend date of this dividend was Friday, March 26th. This represents a $2.41 dividend on an annualized basis and a yield of 2.98%. Equity Residential’s dividend payout ratio (DPR) is presently 73.93%.

About Equity Residential

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Analyst Recommendations for Equity Residential (NYSE:EQR)

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