UBS Group Has Lowered Expectations for Equity Residential (NYSE:EQR) Stock Price

Equity Residential (NYSE:EQR) had its target price cut by stock analysts at UBS Group from $84.00 to $76.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s target price indicates a potential upside of 13.54% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Evercore ISI upgraded Equity Residential from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $74.00 to $75.00 in a research report on Monday, July 7th. Mizuho dropped their price target on Equity Residential from $76.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Barclays increased their price target on Equity Residential from $79.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Stifel Nicolaus dropped their price target on Equity Residential from $82.25 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, Scotiabank lowered their target price on Equity Residential from $82.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Friday, June 13th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Equity Residential presently has an average rating of “Moderate Buy” and a consensus target price of $78.81.

Equity Residential Trading Up 1.2%

NYSE:EQR opened at $66.94 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $68.51 and its two-hundred day moving average is $69.35. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.84. The company has a market cap of $25.43 billion, a PE ratio of 25.55, a P/E/G ratio of 3.42 and a beta of 0.88.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Equity Residential had a return on equity of 8.93% and a net margin of 33.11%. The company had revenue of $760.81 million for the quarter, compared to the consensus estimate of $769.43 million. During the same quarter last year, the business posted $0.93 EPS. Equity Residential’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Equity Residential will post 3.98 EPS for the current year.

Institutional Investors Weigh In On Equity Residential

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Equity Residential by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 56,000,934 shares of the real estate investment trust’s stock worth $4,008,547,000 after acquiring an additional 199,943 shares in the last quarter. Norges Bank bought a new stake in shares of Equity Residential during the 4th quarter worth $2,493,426,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Equity Residential by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,711,588 shares of the real estate investment trust’s stock worth $1,482,537,000 after acquiring an additional 1,101,027 shares in the last quarter. APG Asset Management US Inc. boosted its stake in shares of Equity Residential by 0.5% during the 4th quarter. APG Asset Management US Inc. now owns 11,664,576 shares of the real estate investment trust’s stock worth $837,050,000 after acquiring an additional 57,660 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Equity Residential by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 9,519,627 shares of the real estate investment trust’s stock worth $681,594,000 after acquiring an additional 165,683 shares in the last quarter. 92.68% of the stock is owned by institutional investors.

About Equity Residential

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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.