Shares of Equity Residential (NYSE:EQR) have received a consensus recommendation of “Hold” from the twenty analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $66.38.
EQR has been the topic of several recent research reports. Zacks Investment Research lowered Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Robert W. Baird set a $62.00 target price on Equity Residential and gave the company a “hold” rating in a report on Friday, March 2nd. Cantor Fitzgerald set a $66.00 target price on Equity Residential and gave the company a “hold” rating in a report on Monday, February 5th. Jefferies Group restated a “hold” rating and set a $62.00 target price on shares of Equity Residential in a report on Monday, February 5th. Finally, Stifel Nicolaus cut their target price on Equity Residential from $64.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, February 1st.
In other news, insider Ian Kaufman sold 684 shares of Equity Residential stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $39,795.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark J. Parrell sold 7,355 shares of Equity Residential stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $427,913.90. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock worth $819,000 over the last quarter. 3.79% of the stock is currently owned by corporate insiders.
Shares of NYSE:EQR traded down $0.17 during midday trading on Wednesday, hitting $62.26. 547,140 shares of the stock were exchanged, compared to its average volume of 2,592,796. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.86. Equity Residential has a 52-week low of $54.97 and a 52-week high of $70.46. The firm has a market cap of $22,708.70, a price-to-earnings ratio of 19.88, a P/E/G ratio of 3.21 and a beta of 0.34.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.47). Equity Residential had a return on equity of 5.76% and a net margin of 24.39%. The firm had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $625.83 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. Equity Residential’s revenue was up 4.2% on a year-over-year basis. sell-side analysts forecast that Equity Residential will post 3.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Monday, March 26th were paid a $0.54 dividend. The ex-dividend date was Friday, March 23rd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.47%. Equity Residential’s payout ratio is presently 69.01%.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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