Equity Residential (EQR) Stock Price Up 1.3%
Equity Residential (NYSE:EQR) shares rose 1.3% on Tuesday . The company traded as high as $70.75 and last traded at $70.71, with a volume of 1,808,731 shares traded. The stock had previously closed at $69.82.
EQR has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of Equity Residential to $80.00 in a research report on Monday, March 21st. Mizuho upped their price target on shares of Equity Residential to $76.00 in a research report on Monday, March 21st. Citigroup Inc. downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $79.00 price target for the company. in a research report on Wednesday, March 30th. Zacks Investment Research downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Friday, April 8th. Finally, Bank of America Corp. downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating in a research report on Monday, April 11th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.65.
The firm has a 50-day moving average price of $67.31 and a 200-day moving average price of $71.59. The company has a market capitalization of $25.84 billion and a PE ratio of 6.07.
Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $619.10 million for the quarter, compared to analysts’ expectations of $644.84 million. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts expect that Equity Residential will post $3.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, June 27th were given a dividend of $0.5038 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Thursday, June 23rd.
Other institutional investors have made changes to their positions in the company. Andra AP fonden boosted its position in shares of Equity Residential by 30.3% in the fourth quarter. Andra AP fonden now owns 161,700 shares of the real estate investment trust’s stock worth $13,193,000 after buying an additional 37,600 shares during the last quarter. Ashburton Jersey Ltd acquired a new position in shares of Equity Residential during the fourth quarter worth about $1,404,000. Aberdeen Asset Management PLC UK boosted its position in shares of Equity Residential by 5.4% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 223,881 shares of the real estate investment trust’s stock worth $17,847,000 after buying an additional 11,398 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Equity Residential by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 48,604,153 shares of the real estate investment trust’s stock worth $3,965,612,000 after buying an additional 1,241,608 shares during the last quarter. Finally, Waterfront Capital Partners LLC acquired a new position in shares of Equity Residential during the fourth quarter worth about $10,315,000.
Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.
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