Somewhat Positive Press Coverage Somewhat Unlikely to Impact Equity Residential (EQR) Stock Price
News headlines about Equity Residential (NYSE:EQR) have trended somewhat positive on Sunday, according to Accern. Accern scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Equity Residential earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 44.9507762974107 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the news headlines that may have impacted Accern’s scoring:
- Jefferies Group LLC Reaffirms Hold Rating for Equity Residential (EQR) (americanbankingnews.com)
- Equity Residential to Participate in BAML Real Estate Conference (finance.yahoo.com)
- Equity Residential (EQR) Earns Hold Rating from BMO Capital Markets (americanbankingnews.com)
- What’s Real Worth Of Edwards Lifesciences Corporation (EW), Equity Residential (EQR) – AllStockNews (allstocknews.com)
- Trading Corner: Focusing in on the Signals for Equity Residential (EQR) – Financial News Review (finnewsreview.com)
EQR has been the topic of several research analyst reports. Stifel Nicolaus initiated coverage on Equity Residential in a research note on Friday, September 1st. They set a “hold” rating and a $71.00 target price on the stock. Barclays PLC upped their price target on Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $66.00 price target on shares of Equity Residential in a research note on Thursday, May 25th. BidaskClub cut Equity Residential from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, TheStreet raised Equity Residential from a “c+” rating to a “b” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Equity Residential presently has a consensus rating of “Hold” and a consensus target price of $68.21.
Shares of Equity Residential (NYSE:EQR) traded up 0.55% on Friday, hitting $68.09. The stock had a trading volume of 1,463,819 shares. The company has a market cap of $25.01 billion, a P/E ratio of 30.47 and a beta of 0.36. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The company’s 50 day moving average price is $67.46 and its 200-day moving average price is $65.37.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm had revenue of $612.48 million for the quarter, compared to the consensus estimate of $609.37 million. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts expect that Equity Residential will post $1.48 earnings per share for the current year.
In related news, insider Michael L. Manelis sold 433 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $29,023.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David J. Neithercut sold 75,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $68.10, for a total value of $5,107,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,622 shares of company stock worth $11,131,599. 3.79% of the stock is owned by company insiders.
About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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