Equity Residential (NYSE:EQR) shares traded -2.52% lower at $65.67 on Wall Street last session.
In accordance with the data, 21 analysts cover Equity Residential (NYSE:EQR). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $83.00 and a low of $62.00, we find $70.00. Given the previous closing price of $67.37, this indicates a potential upside of 3.9 percent. EQR stock price is now 1.26% away from the 50-day moving average and 5.03% away from the 200-day moving average. The market capitalization of the company currently stands at $24.71B.
It has been rated a hold by 14 analysts and a buy by 6. Brokers who have rated the stock have averaged $70.18 as their price target over the next twelve months.
With the price target enhanced from $63 to $68, Piper Sandler Upgraded its rating from Underweight to Neutral for Equity Residential (NYSE: EQR).
In other news, SHAPIRO MARK S, Director sold 42,435 shares of the company’s stock on May 04. The stock was sold for $2,627,080 at an average price of $61.91. Upon completion of the transaction, the Director now directly owns 12,497 shares in the company, valued at $0.82 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 16, Director HABEN MARY KAY sold 3,354 shares of the business’s stock. A total of $222,135 was realized by selling the stock at an average price of $66.23. This leaves the insider owning 6,857 shares of the company worth $0.45 million. Insiders disposed of 156,271 shares of company stock worth roughly $10.26 million over the past 1 year. A total of 1.71% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in EQR stock. A new stake in Equity Residential shares was purchased by WEISS MULTI-STRATEGY ADVISERS LLC during the first quarter worth $27,827,000. ALLSTATE INVESTMENT MANAGEMENT CO invested $12,212,000 in shares of EQR during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Equity Residential valued at approximately $6,604,000. JUMP FINANCIAL, LLC acquired a new stake in EQR for approximately $4,562,000. INTEGRATED ADVISORS NETWORK LLC purchased a new stake in EQR valued at around $3,569,000 in the second quarter. In total, there are 940 active investors with 93.10% ownership of the company’s stock.
During the past 12 months, Equity Residential has had a low of $54.60 and a high of $80.89. According to the stock market information, the enterprise value for the company is $32.41B, which is based on a 26.90 price-to-earnings ratio, a 1.73 price-to-earnings-growth ratio, and a beta of 0.84. The fifty day moving average price for EQR is $64.92 and a two-hundred day moving average price translates $62.54 for the stock.
The latest earnings results from Equity Residential (NYSE: EQR) was released for Mar, 2023. According to the REIT – Residential Company, earnings per share came in at $0.56, beating analysts’ expectations of $0.33 by 0.23. This compares to $0.19 EPS in the same period last year. The net profit margin was 32.80% and return on equity was 8.30% for EQR. The company reported revenue of $705.09 million for the quarter, compared to $653.35 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.92 percent. For the current quarter, analysts expect EQR to generate $716.53M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/14/2023. Investors who held shares on 06/26/2023 were paid a $0.6625 dividend. On an annualized basis, this represents a $2.65 dividend and a 4.04% percent yield. There was an ex-dividend date of 06/23/2023 for this dividend. In terms of dividend payout ratio, EQR is presently at 102.90%.
Equity Residential(EQR) Company Profile
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 301 properties consisting of 79,351 apartment units, with an established presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft. Worth and Austin.
