Analysts Set Equity Residential (NYSE:EQR) Price Target at $68.22

Shares of Equity Residential (NYSE:EQRGet Free Report) have been given a consensus recommendation of “Hold” by the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $68.41.

EQR has been the subject of several recent research reports. BMO Capital Markets upgraded Equity Residential from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $68.00 to $70.00 in a report on Monday, April 22nd. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 price target on shares of Equity Residential in a report on Thursday, February 22nd. Wedbush restated a “neutral” rating and issued a $68.00 price objective on shares of Equity Residential in a report on Monday, April 29th. UBS Group raised their price objective on shares of Equity Residential from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Truist Financial decreased their target price on shares of Equity Residential from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th.

View Our Latest Stock Analysis on Equity Residential

Equity Residential Price Performance

Shares of EQR opened at $63.90 on Tuesday. The business’s 50-day moving average is $64.05 and its 200-day moving average is $61.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 3.71 and a beta of 0.82. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45.

Equity Residential (NYSE:EQRGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. Equity Residential had a net margin of 31.70% and a return on equity of 8.18%. The firm had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. During the same quarter in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts expect that Equity Residential will post 3.88 EPS for the current fiscal year.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were paid a $0.675 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.23%. Equity Residential’s payout ratio is presently 112.03%.

Insider Buying and Selling

In other news, EVP Alexander Brackenridge sold 4,027 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total value of $261,795.27. Following the completion of the sale, the executive vice president now directly owns 69,901 shares of the company’s stock, valued at $4,544,264.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $65.01, for a total transaction 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 $4,544,264.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Kay Haben sold 3,241 shares of the 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 sale, the director now 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 Trading of Equity Residential

Institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners boosted its position in shares of Equity Residential by 4.3% during the 1st quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock valued at $171,368,000 after acquiring an additional 112,270 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Equity Residential by 3.7% during the first quarter. Cetera Advisors LLC now owns 33,184 shares of the real estate investment trust’s stock valued at $2,094,000 after purchasing an additional 1,169 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Equity Residential in the 1st quarter valued at approximately $2,841,000. PGGM Investments raised its holdings in shares of Equity Residential by 148.2% in the 1st quarter. PGGM Investments now owns 6,879 shares of the real estate investment trust’s stock worth $434,000 after buying an additional 4,108 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Equity Residential in the 1st quarter worth approximately $1,644,000. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Company Profile

(Get Free Report

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.

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Analyst Recommendations for Equity Residential (NYSE:EQR)

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