Shares of Equity Residential (NYSE:EQR) have earned an average recommendation of “Hold” from the twenty-two research firms that are covering the firm. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $71.04.
EQR has been the topic of a number of recent analyst reports. Capital One Financial Corp. cut Equity Residential from an “overweight” rating to an “equal weight” rating in a report on Monday, August 1st. Citigroup Inc. reaffirmed a “hold” rating and set a $69.00 price target on shares of Equity Residential in a report on Friday, September 30th. Zacks Investment Research raised Equity Residential from a “sell” rating to a “hold” rating in a report on Friday, August 12th. BTIG Research initiated coverage on Equity Residential in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Finally, Morgan Stanley cut Equity Residential from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $76.00 to $60.00 in a report on Wednesday, August 3rd.
Several institutional investors have recently bought and sold shares of the stock. Cornerstone Advisors Inc. boosted its position in Equity Residential by 22.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,604 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 297 shares in the last quarter. Lazard Asset Management LLC boosted its position in Equity Residential by 24.1% in the first quarter. Lazard Asset Management LLC now owns 1,768 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 343 shares in the last quarter. Assetmark Inc. bought a new position in Equity Residential during the second quarter valued at approximately $146,000. Compagnie Lombard Odier SCmA bought a new position in Equity Residential during the second quarter valued at approximately $165,000. Finally, Invictus RG bought a new position in Equity Residential during the second quarter valued at approximately $224,000. Institutional investors and hedge funds own 94.19% of the company’s stock.
Shares of Equity Residential (NYSE:EQR) opened at 60.18 on Tuesday. The firm has a market cap of $22.01 billion, a PE ratio of 5.24 and a beta of 0.49. Equity Residential has a one year low of $59.58 and a one year high of $82.39. The firm’s 50-day moving average price is $62.57 and its 200-day moving average price is $66.49.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.01. Equity Residential had a net margin of 167.17% and a return on equity of 39.22%. The company earned $606.07 million during the quarter, compared to analyst estimates of $602.10 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s revenue was down 13.0% on a year-over-year basis. Equities research analysts expect that Equity Residential will post $3.07 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which was paid on Friday, October 14th. Shareholders of record on Monday, September 26th were given a dividend of $3.00 per share. This represents a yield of 3.17%. The ex-dividend date of this dividend was Thursday, September 22nd. Equity Residential’s payout ratio is 17.63%.