Brokerages Set Equity Residential (EQR) PT at $66.38

Shares of Equity Residential (NYSE:EQR) have been assigned an average recommendation of “Hold” from the nineteen research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $66.60.

A number of research firms have issued reports on EQR. Mizuho set a $67.00 target price on shares of Equity Residential and gave the company a “buy” rating in a report on Friday, February 9th. Robert W. Baird set a $62.00 target price on shares of Equity Residential and gave the company a “hold” rating in a report on Friday, March 2nd. Jefferies Group restated a “hold” rating and issued a $62.00 target price on shares of Equity Residential in a report on Monday, February 5th. Zacks Investment Research lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, UBS upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, March 19th.

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Equity Residential stock opened at $60.11 on Wednesday. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $22,347.89, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 3.16 and a beta of 0.34.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.47). The firm had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $625.83 million. Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. Equity Residential’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.79 earnings per share. analysts forecast that Equity Residential will post 3.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Monday, March 26th were issued a dividend of $0.54 per share. This is a positive change from Equity Residential’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Friday, March 23rd. Equity Residential’s dividend payout ratio is presently 69.01%.

In other news, CFO Mark J. Parrell sold 7,355 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total transaction of $427,913.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Fenster sold 449 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total transaction of $26,122.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,077 shares of company stock worth $819,000. Insiders own 3.79% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its position in Equity Residential by 224.6% during the 3rd quarter. Jane Street Group LLC now owns 3,776 shares of the real estate investment trust’s stock worth $249,000 after purchasing an additional 6,807 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Equity Residential by 62.9% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,128 shares of the real estate investment trust’s stock worth $865,000 after purchasing an additional 5,069 shares in the last quarter. Neuberger Berman Group LLC increased its position in Equity Residential by 15.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 653,203 shares of the real estate investment trust’s stock worth $43,066,000 after purchasing an additional 88,409 shares in the last quarter. GSA Capital Partners LLP increased its position in Equity Residential by 74.8% during the 3rd quarter. GSA Capital Partners LLP now owns 8,653 shares of the real estate investment trust’s stock worth $570,000 after purchasing an additional 3,703 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Equity Residential by 9.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 674,830 shares of the real estate investment trust’s stock worth $44,492,000 after purchasing an additional 60,082 shares in the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

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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.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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