Equity Residential (NYSE:EQR) – Stock analysts at SunTrust Banks boosted their Q3 2019 EPS estimates for shares of Equity Residential in a note issued to investors on Thursday, August 22nd, Zacks Investment Research reports. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings per share of $0.87 for the quarter, up from their prior estimate of $0.85. SunTrust Banks currently has a “Hold” rating and a $80.00 target price on the stock.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.02). The firm had revenue of $669.37 million during the quarter, compared to analysts’ expectations of $667.59 million. Equity Residential had a return on equity of 7.21% and a net margin of 28.27%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Monday, August 12th. Morgan Stanley lifted their target price on Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, Argus lifted their target price on Equity Residential to $84.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $77.97.
NYSE:EQR traded up $0.82 on Monday, hitting $85.87. The stock had a trading volume of 1,660,531 shares, compared to its average volume of 1,363,007. The business’s 50-day simple moving average is $82.61 and its two-hundred day simple moving average is $77.88. The stock has a market cap of $31.36 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 4.10 and a beta of 0.48. Equity Residential has a 52-week low of $62.40 and a 52-week high of $87.09. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.88.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. bought a new stake in Equity Residential during the 1st quarter valued at $30,000. NEXT Financial Group Inc bought a new stake in Equity Residential during the 2nd quarter valued at $34,000. Trustcore Financial Services LLC bought a new stake in Equity Residential during the 2nd quarter valued at $40,000. CSat Investment Advisory L.P. raised its position in Equity Residential by 362.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 666 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 522 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Equity Residential during the 2nd quarter valued at $58,000. 88.12% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Alan W. George sold 10,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $84.60, for a total transaction of $846,000.00. Following the completion of the transaction, the executive vice president now owns 31,280 shares in the company, valued at approximately $2,646,288. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David J. Neithercut sold 50,000 shares of Equity Residential stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $80.24, for a total value of $4,012,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,327 shares of company stock worth $15,811,300. Corporate insiders own 2.40% of the company’s stock.
Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today’s renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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