Equity Residential (EQR) PT Set at $69.00 by SunTrust Banks

SunTrust Banks set a $69.00 price target on Equity Residential (NYSE:EQR) in a report issued on Monday. The firm currently has a buy rating on the real estate investment trust’s stock. SunTrust Banks also issued estimates for Equity Residential’s FY2022 earnings at $3.82 EPS.

Other equities research analysts have also recently issued research reports about the stock. Edward Jones upgraded shares of Equity Residential from a hold rating to a buy rating in a report on Tuesday, January 16th. Mizuho upgraded shares of Equity Residential from a neutral rating to a buy rating and set a $76.00 price objective on the stock in a report on Monday, November 6th. TheStreet cut shares of Equity Residential from a b rating to a c+ rating in a report on Tuesday, October 24th. Stifel Nicolaus cut their price objective on shares of Equity Residential from $71.00 to $68.00 and set a hold rating on the stock in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of Equity Residential from a sell rating to a hold rating in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Equity Residential presently has an average rating of Hold and a consensus price target of $69.00.

Shares of Equity Residential (NYSE EQR) opened at $61.44 on Monday. The firm has a market cap of $22,670.00, a PE ratio of 21.19, a price-to-earnings-growth ratio of 2.97 and a beta of 0.36. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.86. Equity Residential has a fifty-two week low of $59.49 and a fifty-two week high of $70.46.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.42). Equity Residential had a return on equity of 7.22% and a net margin of 30.88%. equities analysts expect that Equity Residential will post 3.12 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were paid a $0.5038 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.02 annualized dividend and a dividend yield of 3.28%. Equity Residential’s dividend payout ratio is presently 69.66%.

In other news, insider Alan W. George sold 84,326 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $69.47, for a total value of $5,858,127.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Samuel Zell sold 91,651 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $67.17, for a total transaction of $6,156,197.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 402,380 shares of company stock worth $27,663,622. Insiders own 3.79% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. APG Asset Management US Inc. lifted its position in Equity Residential by 0.4% during the fourth 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 purchasing an additional 61,600 shares during the period. Cohen & Steers Inc. lifted its position in Equity Residential by 109.4% during the third quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after purchasing an additional 7,600,203 shares during the period. Daiwa Securities Group Inc. lifted its position in Equity Residential by 113.9% during the third quarter. Daiwa Securities Group Inc. now owns 7,724,194 shares of the real estate investment trust’s stock valued at $509,256,000 after purchasing an additional 4,112,438 shares during the period. PGGM Investments lifted its position in Equity Residential by 1.7% during the third quarter. PGGM Investments now owns 7,272,978 shares of the real estate investment trust’s stock valued at $479,507,000 after purchasing an additional 121,040 shares during the period. Finally, FMR LLC lifted its position in Equity Residential by 16.4% during the second quarter. FMR LLC now owns 6,697,809 shares of the real estate investment trust’s stock valued at $440,917,000 after purchasing an additional 945,524 shares during the period. Institutional investors own 94.00% of the company’s stock.

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Equity Residential Company Profile

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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