Equity Residential (NYSE:EQR) PT Set at $86.00 by Evercore ISI

Evercore ISI set a $86.00 price target on Equity Residential (NYSE:EQRGet Rating) in a research note issued to investors on Monday, Stock Target Advisor reports.

A number of other equities research analysts have also recently issued reports on the stock. Barclays dropped their target price on shares of Equity Residential from $97.00 to $83.00 in a report on Tuesday, May 10th. StockNews.com began coverage on shares of Equity Residential in a report on Thursday, March 31st. They issued a hold rating on the stock. Morgan Stanley lowered 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 report on Wednesday, May 25th. TheStreet cut shares of Equity Residential from a b rating to a c+ rating in a report on Friday, May 6th. Finally, Mizuho raised shares of Equity Residential from a neutral rating to a buy rating and lowered their price target for the company from $92.00 to $84.00 in a report on Tuesday, May 17th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $87.03.

Shares of EQR stock opened at $72.66 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.19 and a current ratio of 0.19. The firm’s 50-day moving average is $77.70 and its 200-day moving average is $84.80. The stock has a market cap of $27.32 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 3.14 and a beta of 0.82. Equity Residential has a 52-week low of $67.48 and a 52-week high of $94.32.

Equity Residential (NYSE:EQRGet Rating) last issued its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.61). Equity Residential had a net margin of 53.42% and a return on equity of 12.35%. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Sell-side analysts predict that Equity Residential will post 3.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Monday, June 27th will be given a dividend of $0.625 per share. The ex-dividend date is Friday, June 24th. This represents a $2.50 annualized dividend and a dividend yield of 3.44%. Equity Residential’s dividend payout ratio is 69.83%.

In related news, Director Mark S. Shapiro sold 6,665 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $70.10, for a total transaction of $467,216.50. Following the sale, the director now owns 12,497 shares in the company, valued at approximately $876,039.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of EQR. Allworth Financial LP acquired a new stake in Equity Residential in the fourth quarter valued at approximately $29,000. UMB Bank N A MO acquired a new stake in Equity Residential in the fourth quarter valued at approximately $30,000. Riverview Trust Co acquired a new stake in Equity Residential in the first quarter valued at approximately $32,000. CVA Family Office LLC acquired a new stake in Equity Residential in the fourth quarter valued at approximately $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Equity Residential in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

About Equity Residential (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.

Further Reading

Analyst Recommendations for Equity Residential (NYSE:EQR)

Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.