Equity Residential (NYSE:EQR) Downgraded by TheStreet to “C+”

TheStreet downgraded shares of Equity Residential (NYSE:EQRGet Rating) from a b rating to a c+ rating in a report issued on Friday morning, TheStreetRatingsTable reports.

Several other research firms have also weighed in on EQR. Piper Sandler reduced their price objective on shares of Equity Residential from $97.00 to $85.00 in a research note on Wednesday, May 4th. Barclays lifted their price objective on shares of Equity Residential from $87.00 to $97.00 in a report on Tuesday, January 18th. Morgan Stanley upped their price target on shares of Equity Residential from $92.00 to $95.50 and gave the stock an equal weight rating in a research report on Friday, April 8th. Mizuho decreased their price objective on shares of Equity Residential from $98.00 to $92.00 and set a neutral rating on the stock in a report on Wednesday, February 16th. Finally, Truist Financial upped their price objective on shares of Equity Residential from $89.00 to $95.00 in a report on Tuesday, January 18th. Thirteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $91.03.

Shares of EQR stock opened at $73.26 on Friday. Equity Residential has a 52-week low of $71.62 and a 52-week high of $94.32. The stock has a market cap of $27.54 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 4.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.70 and a current ratio of 0.19. The firm has a fifty day moving average of $87.84 and a 200-day moving average of $87.59.

Equity Residential (NYSE:EQRGet Rating) last announced 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 return on equity of 12.35% and a net margin of 53.42%. During the same quarter last year, the firm posted $0.68 EPS. On average, sell-side analysts predict that Equity Residential will post 3.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Monday, March 28th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, March 25th. This is an increase from Equity Residential’s previous quarterly dividend of $0.60. Equity Residential’s dividend payout ratio is currently 69.83%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its holdings in Equity Residential by 101.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 156,889 shares of the real estate investment trust’s stock valued at $14,224,000 after acquiring an additional 78,835 shares during the period. KBC Group NV lifted its stake in shares of Equity Residential by 7.6% during the 3rd quarter. KBC Group NV now owns 145,028 shares of the real estate investment trust’s stock worth $11,736,000 after acquiring an additional 10,260 shares during the last quarter. Capula Management Ltd bought a new stake in shares of Equity Residential during the 3rd quarter worth approximately $1,190,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Equity Residential during the 4th quarter worth approximately $12,275,000. Finally, Websterrogers Financial Advisors LLC bought a new stake in Equity Residential during the 4th quarter valued at $3,183,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

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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