Equity Residential (EQR) Earns Hold Rating from Citigroup Inc.
Citigroup Inc. reaffirmed their hold rating on shares of Equity Residential (NYSE:EQR) in a report published on Friday. The firm currently has a $69.00 price target on the real estate investment trust’s stock.
A number of other equities analysts also recently commented on EQR. SunTrust Banks Inc. raised shares of Equity Residential from a neutral rating to a buy rating and set a $75.00 price objective for the company in a research note on Thursday, June 2nd. They noted that the move was a valuation call. Royal Bank Of Canada reduced their price objective on shares of Equity Residential from $74.00 to $72.00 and set a sector perform rating for the company in a research note on Thursday, June 2nd. Deutsche Bank AG reaffirmed a hold rating and issued a $73.00 price target (down from $74.00) on shares of Equity Residential in a report on Friday, June 3rd. Cantor Fitzgerald reaffirmed a buy rating on shares of Equity Residential in a report on Saturday, June 4th. Finally, Jefferies Group lowered shares of Equity Residential from a buy rating to a hold rating and cut their price target for the stock from $79.00 to $66.00 in a report on Wednesday, June 8th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $72.53.
Shares of Equity Residential (NYSE:EQR) opened at 62.51 on Friday. The stock has a market cap of $22.85 billion, a P/E ratio of 5.45 and a beta of 0.49. Equity Residential has a 1-year low of $62.17 and a 1-year high of $82.39. The company has a 50 day moving average price of $64.66 and a 200 day moving average price of $68.02.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.02. The business earned $595.20 million during the quarter, compared to the consensus estimate of $609.82 million. Equity Residential had a return on equity of 38.79% and a net margin of 160.96%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. On average, equities analysts anticipate that Equity Residential will post $3.08 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be given a $3.00 dividend. The ex-dividend date is Thursday, September 22nd. This represents a dividend yield of 3.17%. Equity Residential’s dividend payout ratio (DPR) is currently 17.67%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Security Capital Research & Management Inc. increased its position in Equity Residential by 237.3% in the second quarter. Security Capital Research & Management Inc. now owns 4,718,407 shares of the real estate investment trust’s stock valued at $325,004,000 after buying an additional 3,319,509 shares during the period. Eaton Vance Management increased its position in Equity Residential by 89.9% in the second quarter. Eaton Vance Management now owns 5,472,278 shares of the real estate investment trust’s stock valued at $376,931,000 after buying an additional 2,590,731 shares during the period. Heitman Real Estate Securities LLC increased its position in Equity Residential by 262.6% in the first quarter. Heitman Real Estate Securities LLC now owns 2,367,704 shares of the real estate investment trust’s stock valued at $177,649,000 after buying an additional 1,714,728 shares during the period. Emerald Acquisition Ltd. bought a new position in Equity Residential during the second quarter valued at $115,437,000. Finally, Lasalle Investment Management Securities LLC increased its position in Equity Residential by 13.1% in the second quarter. Lasalle Investment Management Securities LLC now owns 13,337,985 shares of the real estate investment trust’s stock valued at $918,720,000 after buying an additional 1,549,887 shares during the period. Institutional investors and hedge funds own 94.18% of the company’s stock.
About Equity Residential
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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