Residential propety

Equity Residential (NYSE:EQR) downgraded by Piper Sandler

Piper Sandler downgraded the shares of Residential Equity (NYSE:EQR – Get a Grade) from a neutral rating to an underweight rating in a report released Wednesday, Marketbeat reports. The brokerage currently has a price target of $70.00 on shares of the real estate investment trust, down from its previous price target of $78.00.

Several other research companies have also published QRA reports. Morgan Stanley lowered its price target on Equity Residential from $78.50 to $75.00 and set an equal weight rating for the company in a Friday, July 15 research note. Mizuho lowered its price target on Equity Residential from $84.00 to $79.00 and set a buy rating for the company in a research note on Monday, June 27. Barclays lowered its price target on Equity Residential from $97.00 to $83.00 in a Tuesday May 10 research note. Credit Suisse Group began covering Equity Residential in a research note on Wednesday, June 22. They issued an outperform rating and a price target of $80.00 for the company. Finally, Royal Bank of Canada upgraded Equity Residential from a sector performance rating to an outperform rating and lowered its price target for the business from $95.00 to $79.00 in a research note from the Wednesday, June 22. One research analyst has rated the security with a sell rating, twelve have issued a hold rating and five have issued a buy rating for the security. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $83.75.

Equity Residential Price Performance

Shares of Equity Residential opened at $73.31 on Wednesday. The stock has a 50-day moving average of $73.05 and a 200-day moving average of $82.32. Equity Residential has a 12-month low of $67.48 and a 12-month high of $94.32. The company has a market capitalization of $27.57 billion, a PE ratio of 20.48, a PEG ratio of 3.18 and a beta of 0.81. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt ratio of 0.74.

Equity Residential (NYSE:EQR – Get Rating) last reported quarterly results on Tuesday, April 26. The real estate investment trust reported EPS of $0.19 for the quarter, missing analyst consensus estimates of $0.80 per ($0.61). Equity Residential had a net margin of 53.42% and a return on equity of 12.35%. During the same period of the previous year, the company achieved EPS of $0.68. On average, research analysts expect Equity Residential to post EPS of 3.45 for the current fiscal year.

Announcement of Residential Stock Dividends

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8. Shareholders of record on Monday, June 27 received a dividend of $0.625 per share. The ex-dividend date was Friday, June 24. This represents an annualized dividend of $2.50 and a yield of 3.41%. Equity Residential’s payout ratio is currently 69.83%.

Insiders place their bets

In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of the company in a trade on Friday, June 17. The stock was sold at an average price of $70.10, for a total transaction of $467,216.50. As a result of the transaction, the administrator now directly owns 12,497 shares of the company, valued at approximately $876,039.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 2.30% of the shares are currently held by insiders of the company.

Institutional Equity Trading Residential

Several hedge funds and other institutional investors have been buying and selling stocks recently. DekaBank Deutsche Girozentrale increased its position in Equity Residential shares by 101.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 156,889 shares of the real estate investment trust worth $14,224,000 after buying an additional 78,835 shares last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Equity Residential stock in Q4 for $12,275,000. 180 Wealth Advisors LLC acquired a new equity stake in Equity Residential in Q1 worth $200,000. Inspire Investing LLC acquired a new equity stake in Equity Residential in Q1 valued at $4,234,000. Finally, National Bank of Canada FI acquired a new stake in the shares of Equity Residential in the 4th quarter at a value of $5,627,000. Institutional investors hold 91.43% of the company’s shares.

About Equity Residential

(Get a rating)

Equity Residential is committed to building communities where people thrive. The Company, an S&P 500 member, is focused on acquiring, developing and managing residential properties located in and around vibrant cities that attract high-quality, long-term tenants. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartments, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Analyst Recommendations for Equity Residential (NYSE:EQR)

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