Equity Residential (NYSE:EQR) Receives Average Rating of “Hold” from Analysts

Equity Residential (NYSE:EQR) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $71.77.

A number of brokerages have recently issued reports on EQR. Deutsche Bank Aktiengesellschaft increased their target price on Equity Residential from $60.00 to $63.00 and gave the stock a “sell” rating in a report on Wednesday, May 26th. BTIG Research raised their price target on Equity Residential from $78.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 3rd. Zacks Investment Research raised 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. Royal Bank of Canada initiated coverage on Equity Residential in a report on Tuesday, March 30th. They set a “sector perform” rating and a $71.00 price target for the company. Finally, Piper Sandler raised Equity Residential from an “underweight” rating to a “neutral” rating and raised their price target for the company from $54.00 to $76.00 in a report on Thursday, April 29th.

Shares of EQR opened at $80.80 on Friday. Equity Residential has a 1 year low of $45.42 and a 1 year high of $82.05. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day moving average of $74.68. The firm has a market cap of $30.22 billion, a PE ratio of 45.65, a PEG ratio of 8.99 and a beta of 0.77.

Equity Residential (NYSE:EQR) last issued 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 return on equity of 6.20% and a net margin of 26.64%. As a group, analysts anticipate that Equity Residential will post 2.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 9th. Stockholders of record on Monday, March 29th were given a $0.6025 dividend. The ex-dividend date was Friday, March 26th. This represents a $2.41 annualized dividend and a dividend yield of 2.98%. Equity Residential’s dividend payout ratio is currently 73.93%.

In other news, Director Linda Bynoe sold 6,665 shares of the firm’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $79.96, for a total value of $532,933.40. Following the transaction, the director now directly owns 15,548 shares in the company, valued at approximately $1,243,218.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradley A. Keywell sold 3,658 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $79.82, for a total value of $291,981.56. Following the completion of the transaction, the director now owns 3,392 shares in the company, valued at $270,749.44. The disclosure for this sale can be found here. Insiders sold a total of 44,529 shares of company stock worth $3,371,174 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of EQR. Creative Planning lifted its holdings in Equity Residential by 13.0% during the fourth quarter. Creative Planning now owns 11,309 shares of the real estate investment trust’s stock worth $670,000 after acquiring an additional 1,300 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Equity Residential by 0.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 140,949 shares of the real estate investment trust’s stock worth $8,355,000 after acquiring an additional 500 shares in the last quarter. JLP Asset Management LLC lifted its holdings in Equity Residential by 13.0% during the fourth quarter. JLP Asset Management LLC now owns 103,550 shares of the real estate investment trust’s stock worth $6,138,000 after acquiring an additional 11,920 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Equity Residential by 12.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,032 shares of the real estate investment trust’s stock valued at $417,000 after purchasing an additional 761 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Equity Residential by 736.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 837,638 shares of the real estate investment trust’s stock valued at $49,655,000 after purchasing an additional 737,508 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

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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