Equity Residential (NYSE:EQR) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group started coverage on shares of Equity Residential (NYSE:EQRGet Rating) in a report published on Wednesday, The Fly reports. The firm issued an outperform rating on the real estate investment trust’s stock.

EQR has been the topic of a number of other research reports. Truist Financial dropped their price target on shares of Equity Residential to $85.00 in a research note on Thursday, May 26th. StockNews.com started coverage on shares of Equity Residential in a research note on Thursday, March 31st. They issued a hold rating on the stock. Scotiabank dropped their price target on shares of Equity Residential from $92.00 to $90.00 in a research note on Thursday, May 19th. Royal Bank of Canada upgraded Equity Residential from a sector perform rating to an outperform rating and decreased their price objective for the company from $95.00 to $79.00 in a report on Wednesday. Finally, Piper Sandler decreased their price objective on Equity Residential from $97.00 to $85.00 in a report on Wednesday, May 4th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Equity Residential has a consensus rating of Hold and an average target price of $87.54.

Shares of NYSE EQR opened at $71.36 on Wednesday. The stock has a market capitalization of $26.83 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 3.10 and a beta of 0.82. Equity Residential has a 12 month low of $67.48 and a 12 month high of $94.32. The firm’s 50 day simple moving average is $78.06 and its 200-day simple moving average is $84.89. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.19 and a quick ratio of 0.19.

Equity Residential (NYSE:EQRGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.61). Equity Residential had a return on equity of 12.35% and a net margin of 53.42%. During the same quarter last year, the firm posted $0.68 EPS. Analysts anticipate that Equity Residential will post 3.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Monday, June 27th will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, June 24th. This represents a $2.50 annualized dividend and a dividend yield of 3.50%. Equity Residential’s dividend payout ratio is presently 69.83%.

In other news, Director Mark S. Shapiro sold 6,665 shares of Equity Residential stock in a transaction on Friday, June 17th. The stock was sold at an average price of $70.10, for a total transaction of $467,216.50. Following the transaction, the director now owns 12,497 shares in the company, valued at approximately $876,039.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Checchi Capital Advisers LLC raised its holdings in Equity Residential by 3.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,424 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 117 shares during the period. Wetherby Asset Management Inc. grew its position in Equity Residential by 4.3% in the 4th quarter. Wetherby Asset Management Inc. now owns 2,810 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 117 shares in the last quarter. Keybank National Association OH grew its position in Equity Residential by 4.1% in the 4th quarter. Keybank National Association OH now owns 3,152 shares of the real estate investment trust’s stock valued at $285,000 after acquiring an additional 124 shares in the last quarter. First Command Bank grew its position in Equity Residential by 15.6% in the 1st quarter. First Command Bank now owns 1,040 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 140 shares in the last quarter. Finally, CVA Family Office LLC grew its position in Equity Residential by 34.9% in the 1st quarter. CVA Family Office LLC now owns 560 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

About Equity Residential (Get Rating)

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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