Equity Residential (NYSE:EQR) Receives $68.09 Consensus PT from Brokerages

Equity Residential (NYSE:EQR) has earned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $68.47.

Several equities research analysts have weighed in on the stock. Mizuho increased their target price on shares of Equity Residential from $61.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. UBS Group increased their target price on shares of Equity Residential from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on shares of Equity Residential from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Raymond James upgraded shares of Equity Residential from an “underperform” rating to a “market perform” rating in a report on Monday, March 18th. Finally, Wedbush restated a “neutral” rating and set a $68.00 price objective on shares of Equity Residential in a report on Monday, April 29th.

Equity Residential Trading Up 1.3 %

Shares of NYSE EQR opened at $69.19 on Friday. The company’s 50 day simple moving average is $65.52 and its 200 day simple moving average is $62.62. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.57. The firm has a market capitalization of $26.26 billion, a P/E ratio of 28.71, a P/E/G ratio of 3.89 and a beta of 0.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.23.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. On average, analysts predict that Equity Residential will post 3.88 EPS for the current year.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Monday, July 1st. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

Insider Activity at Equity Residential

In related news, Director Mary Kay Haben sold 3,241 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $65.48, for a total value of $212,220.68. Following the completion of the transaction, the director now owns 9,720 shares of the company’s stock, valued at $636,465.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Alexander Brackenridge sold 4,027 shares of Equity Residential stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total value of $261,795.27. Following the completion of the transaction, the executive vice president now owns 69,901 shares of the company’s stock, valued at approximately $4,544,264.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary Kay Haben sold 3,241 shares of Equity Residential stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the completion of the transaction, the director now directly owns 9,720 shares of the company’s stock, valued at approximately $636,465.60. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EQR. Financial Gravity Asset Management Inc. grew its position in shares of Equity Residential by 593.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 392 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Equity Residential during the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Equity Residential during the 4th quarter worth about $28,000. Allworth Financial LP boosted its holdings in shares of Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 267 shares during the period. Finally, Voisard Asset Management Group Inc. bought a new stake in shares of Equity Residential during the 4th quarter worth about $33,000. Institutional investors own 92.68% 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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.