Equity One Inc. (EQY) Stock Rating Upgraded by Zacks Investment Research
Equity One Inc. (NYSE:EQY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $33.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price target points to a potential upside of 12.47% from the stock’s current price.
According to Zacks, “Equity One, Inc. is a self-administered, self-managed real estate investment trust that principally acquires, renovates, develops and manages community and neighborhood shopping centers anchored by national and regional supermarket chains. “
Several other research analysts have also commented on EQY. Barclays PLC upped their price objective on shares of Equity One from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, July 19th. BTIG Research began coverage on shares of Equity One in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Deutsche Bank AG reaffirmed a “hold” rating and issued a $29.00 target price (up from $28.00) on shares of Equity One in a research report on Monday, July 18th. Citigroup Inc. upped their target price on shares of Equity One from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Finally, Stifel Nicolaus downgraded shares of Equity One from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Equity One presently has a consensus rating of “Hold” and an average target price of $30.29.
Shares of Equity One (NYSE:EQY) traded up 0.27% during mid-day trading on Tuesday, reaching $29.34. 279,290 shares of the company’s stock traded hands. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 54.43 and a beta of 0.75. The firm’s 50 day moving average price is $30.27 and its 200-day moving average price is $30.33. Equity One has a 12-month low of $25.02 and a 12-month high of $33.46.
Equity One (NYSE:EQY) last issued its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Equity One had a net margin of 19.85% and a return on equity of 4.10%. The business earned $92.53 million during the quarter, compared to analyst estimates of $93.46 million. During the same period in the prior year, the business earned $0.31 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts forecast that Equity One will post $1.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Wednesday, September 14th. Equity One’s dividend payout ratio (DPR) is 166.04%.
In related news, President Thomas Caputo sold 366,500 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $30.97, for a total transaction of $11,350,505.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 35.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EQY. Daiwa Securities Group Inc. increased its stake in shares of Equity One by 3.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,300 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 100 shares during the last quarter. Advisor Group Inc. bought a new stake in shares of Equity One during the second quarter worth about $122,000. Bank of Montreal Can bought a new stake in shares of Equity One during the second quarter worth about $150,000. BlackRock Japan Co. Ltd increased its stake in shares of Equity One by 23.8% in the first quarter. BlackRock Japan Co. Ltd now owns 4,783 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 921 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Equity One by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,078 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 160 shares during the last quarter. 64.01% of the stock is currently owned by institutional investors.
About Equity One
Equity One, Inc is a real estate investment trust (REIT). The Company owns, manages, acquires, develops and redevelops shopping centers and retail properties located in supply constrained suburban and urban communities. The Company’s property portfolio includes 90-30 Metropolitan, 1175 Third Avenue, Aventura Square, Circle Center West, Culver Center, Bird Ludlum, Greenwood, Pavilion, Sheridan Plaza, Shoppes of Silverlakes, Westport Plaza, Alafaya Village, Ryanwood, Town & Country, Plaza Escuela, Potrero, Copps Hill, Southbury Green, Clocktower Plaza, Buckhead Station, Hampton Oaks, Quincy Star Market, Elmwood Oaks, Westwood Towers, Centre Pointe Plaza and Willows Shopping Center.
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