Equity Residential (EQR) Stock Rating Reaffirmed by RBC Capital Markets
Equity Residential (NYSE:EQR)‘s stock had its “sector perform” rating reissued by analysts at RBC Capital Markets in a report issued on Thursday. They currently have a $67.00 price target on the real estate investment trust’s stock, down from their previous price target of $70.00. RBC Capital Markets’ price target would indicate a potential upside of 11.57% from the company’s previous close.
EQR has been the topic of a number of other reports. Barclays PLC reissued a “hold” rating and issued a $66.00 price target on shares of Equity Residential in a report on Thursday, November 3rd. Capital One Financial Corp. downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating in a report on Monday, August 1st. Citigroup Inc. reissued a “hold” rating and issued a $69.00 price target on shares of Equity Residential in a report on Friday, September 30th. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Finally, BTIG Research initiated coverage on shares of Equity Residential in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.03.
Shares of Equity Residential (NYSE:EQR) opened at 60.05 on Thursday. The firm’s 50-day moving average is $61.72 and its 200-day moving average is $65.81. Equity Residential has a 52 week low of $59.29 and a 52 week high of $82.39. The firm has a market capitalization of $21.96 billion, a P/E ratio of 5.23 and a beta of 0.37.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, October 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $606.07 million for the quarter, compared to analysts’ expectations of $602.10 million. Equity Residential had a return on equity of 39.22% and a net margin of 167.17%. Equity Residential’s revenue was down 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. Equities analysts anticipate that Equity Residential will post $3.08 EPS for the current year.
A number of hedge funds have recently modified their holdings of the company. Cornerstone Advisors Inc. raised its stake in shares of Equity Residential by 22.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,604 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 297 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of Equity Residential during the second quarter valued at about $146,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Equity Residential during the second quarter valued at about $165,000. First Personal Financial Services raised its stake in shares of Equity Residential by 476.9% in the third quarter. First Personal Financial Services now owns 3,000 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 2,480 shares in the last quarter. Finally, Invictus RG purchased a new stake in shares of Equity Residential during the second quarter valued at about $224,000. 95.34% of the stock is owned by institutional investors and hedge funds.
Equity Residential Company Profile
Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.
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