The stock of Equity Residential (NYSE:EQR) is a huge mover today! About 426,542 shares traded hands. Equity Residential (NYSE:EQR) has declined 16.60% since April 25, 2016 and is downtrending. It has underperformed by 22.62% the S&P500.
The move comes after 9 months positive chart setup for the $22.05B company. It was reported on Nov, 28 by Barchart.com. We have $65.50 PT which if reached, will make NYSE:EQR worth $1.98B more.
Analysts await Equity Residential (NYSE:EQR) to report earnings on February, 7. They expect $0.79 EPS, down 14.13% or $0.13 from last year’s $0.92 per share. EQR’s profit will be $289.89M for 19.02 P/E if the $0.79 EPS becomes a reality. After $0.78 actual EPS reported by Equity Residential for the previous quarter, Wall Street now forecasts 1.28% EPS growth.
Equity Residential (NYSE:EQR) Ratings Coverage
Out of 18 analysts covering Equity Residential (NYSE:EQR), 4 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 22% are positive. Equity Residential has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by Miller Tabak given on Monday, November 9. SunTrust upgraded the stock to “Buy” rating in Thursday, June 2 report. Mizuho upgraded Equity Residential (NYSE:EQR) on Monday, October 31 to “Neutral” rating. The rating was downgraded by Jefferies on Wednesday, June 8 to “Hold”. Deutsche Bank maintained the stock with “Hold” rating in Friday, June 3 report. RBC Capital Markets maintained it with “Sector Perform” rating and $85 target price in Monday, February 8 report. The firm has “Hold” rating by Evercore given on Wednesday, April 27. BTIG Research initiated Equity Residential (NYSE:EQR) on Thursday, August 25 with “Neutral” rating. As per Wednesday, May 18, the company rating was upgraded by Janney Capital. The firm has “Sector Perform” rating given on Monday, May 2 by RBC Capital Markets.
According to Zacks Investment Research, “Equity Residential Prop. is a self-administered and self-managed equity real estate investment trust. The company’s subsidiaries include the Operating Partnership, a series of management limited partnerships and companies, the Financing Partnerships, the limited liability companies, and certain other entities.”
Insitutional Activity: The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.35, from 1.14 in 2016Q1. The ratio dropped, as 41 funds sold all Equity Residential shares owned while 154 reduced positions. 61 funds bought stakes while 161 increased positions. They now own 338.61 million shares or 5.37% less from 357.82 million shares in 2016Q1.
Weiss Multi has invested 0.67% of its portfolio in Equity Residential (NYSE:EQR). Raymond James Na reported 11,347 shares or 0.07% of all its holdings. Amf Pensionsforsakring Ab holds 0.15% of its portfolio in Equity Residential (NYSE:EQR) for 174,769 shares. Asset Mgmt Inc last reported 44,812 shares in the company. Northern Trust Corporation has invested 0.13% of its portfolio in Equity Residential (NYSE:EQR). Keybank National Association Oh reported 7,901 shares or 0% of all its holdings. Nj State Employees Deferred Compensation Plan accumulated 15,000 shares or 0.22% of the stock. Asset Inc last reported 1,700 shares in the company. State Of Wisconsin Inv Board last reported 356,147 shares in the company. United Capital Advisers Ltd Liability Corp last reported 22,249 shares in the company. Amici Lc reported 20,000 shares or 0.26% of all its holdings. Fmr Ltd Liability Corporation accumulated 10.23 million shares or 0.1% of the stock. Sumitomo Mitsui Holdings Incorporated accumulated 1.36M shares or 0.16% of the stock. Spinnaker reported 11,950 shares or 0.11% of all its holdings. Deere & holds 0.09% or 23,869 shares in its portfolio.
More recent Equity Residential (NYSE:EQR) news were published by: Bloomberg.com which released: “Equity Residential Falls After Third Revenue-Forecast Cut” on July 27, 2016. Also Therealdeal.com published the news titled: “Equity Residential ditches Trump name at UWS rentals following tenant petition” on November 15, 2016. Seekingalpha.com‘s news article titled: “AvalonBay, Equity Residential, And UDR: The Coasts Are Still A Negative Sign” with publication date: November 01, 2016 was also an interesting one.
EQR Company Profile
Equity Residential, incorporated on July 21, 1992, is a real estate investment trust. The Firm is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s divisions include Boston, New York, San Francisco, Seattle, Southern California, Washington D.C., Non-core – South Florida, Non-core – Denver, and Non-core – other. ERP Operating Limited Partnership (Operating Partnership) conducts the multifamily residential property business of the Company. The Company’s property ownership, development and related business are conducted through the Operating Partnership. The Firm holds interests in approximately 390 properties located in over 10 states and the District of Columbia, consisting of approximately 109,650 apartment units.
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