Equity Residential (NYSE:EQR) Given a $86.00 Price Target at Evercore ISI

Evercore ISI set a $86.00 target price on Equity Residential (NYSE:EQR – Get Rating) in a research note published on Monday, Stock Target Advisor reports.

Other equities analysts have also recently issued reports about the stock. Mizuho upgraded shares of Equity Residential from a neutral rating to a buy rating and decreased their target price for the company from $92.00 to $84.00 in a research note on Tuesday, May 17th. TheStreet lowered Equity Residential from a b rating to a c+ rating in a research note on Friday, May 6th. Scotiabank cut their price target on Equity Residential from $92.00 to $90.00 in a research note on Thursday, May 19th. Piper Sandler dropped their price target on shares of Equity Residential from $97.00 to $85.00 in a research note on Wednesday, May 4th. Finally, Morgan Stanley dropped their price target on shares of Equity Residential from $86.50 to $78.50 and set an equal weight rating on the stock in a research note on Wednesday, May 25th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $87.54.

Shares of EQR stock opened at $71.36 on Monday. The business has a fifty day moving average of $78.06 and a 200 day moving average of $84.89. Equity Residential has a 1 year low of $67.48 and a 1 year high of $94.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market capitalization of $26.83 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 3.10 and a beta of 0.82.

Equity Residential (NYSE:EQR – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.61). Equity Residential had a return on equity of 12.35% and a net margin of 53.42%. During the same quarter last year, the business posted $0.68 earnings per share. As a group, equities research analysts expect that Equity Residential will post 3.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Monday, June 27th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, June 24th. Equity Residential’s dividend payout ratio (DPR) is currently 69.83%.

In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of Equity Residential stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $70.10, for a total transaction of $467,216.50. Following the transaction, the director now directly owns 12,497 shares of the company’s stock, valued at $876,039.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP purchased a new stake in Equity Residential during the fourth quarter worth approximately $29,000. UMB Bank N A MO acquired a new stake in Equity Residential during the 4th quarter worth $30,000. Riverview Trust Co acquired a new stake in Equity Residential during the 1st quarter worth $32,000. CVA Family Office LLC purchased a new position in Equity Residential during the 4th quarter worth approximately $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Equity Residential during the 1st quarter worth approximately $40,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Company Profile (Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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