ValuEngine Lowers Equity Residential (EQR) to Sell

ValuEngine cut shares of Equity Residential (NYSE:EQR) from a hold rating to a sell rating in a research note released on Wednesday.

Other research analysts also recently issued research reports about the company. SunTrust Banks set a $66.00 price target on Equity Residential and gave the stock a buy rating in a research note on Monday, March 19th. UBS upgraded Equity Residential from a neutral rating to a buy rating and set a $69.00 price target on the stock in a research note on Monday, March 19th. Mizuho set a $67.00 price target on Equity Residential and gave the stock a buy rating in a research note on Friday, February 9th. Edward Jones upgraded Equity Residential from a hold rating to a buy rating in a research note on Tuesday, January 16th. Finally, Sandler O’Neill reiterated a hold rating and issued a $65.00 target price on shares of Equity Residential in a research note on Tuesday, March 20th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $66.53.

Equity Residential opened at $59.63 on Wednesday, MarketBeat Ratings reports. The company has a market cap of $22.00 billion, a P/E ratio of 18.84, a PEG ratio of 3.10 and a beta of 0.33. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. Equity Residential has a 52-week low of $54.97 and a 52-week high of $70.46.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.21). The firm had revenue of $633.02 million for the quarter, compared to analysts’ expectations of $626.81 million. Equity Residential had a return on equity of 6.41% and a net margin of 26.83%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. research analysts expect that Equity Residential will post 3.23 EPS for the current fiscal year.

In other Equity Residential news, insider Barry Altshuler sold 5,182 shares of Equity Residential stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $61.15, for a total value of $316,879.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.75% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Equity Residential by 1.0% in the 4th quarter. BlackRock Inc. now owns 36,016,443 shares of the real estate investment trust’s stock valued at $2,296,769,000 after buying an additional 341,071 shares during the period. APG Asset Management US Inc. lifted its holdings in shares of Equity Residential by 0.4% in the 4th quarter. APG Asset Management US Inc. now owns 15,122,000 shares of the real estate investment trust’s stock valued at $964,330,000 after buying an additional 61,600 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Equity Residential by 1.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 7,800,736 shares of the real estate investment trust’s stock valued at $497,453,000 after buying an additional 76,542 shares during the period. Northern Trust Corp lifted its holdings in shares of Equity Residential by 3.2% in the 1st quarter. Northern Trust Corp now owns 6,766,189 shares of the real estate investment trust’s stock valued at $416,933,000 after buying an additional 209,065 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Equity Residential by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,471,726 shares of the real estate investment trust’s stock valued at $337,167,000 after buying an additional 143,803 shares during the period. 93.53% of the stock is owned by institutional investors and hedge funds.

Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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