The stock of Equity Residential (NYSE:EQR) hit a new 52-week low and has $59.36 target or 5.00% below today’s $62.48 share price. The 7 months bearish chart indicates high risk for the $22.87B company. The 1-year low was reported on Oct, 4 by Barchart.com. If the $59.36 price target is reached, the company will be worth $1.14 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. Equity Residential (NYSE:EQR) has declined 8.06% since March 1, 2016 and is downtrending. It has underperformed by 17.30% the S&P500.
Analysts await Equity Residential (NYSE:EQR) to report earnings on October, 24. They expect $0.77 earnings per share, down 11.49% or $0.10 from last year’s $0.87 per share. EQR’s profit will be $281.80 million for 20.29 P/E if the $0.77 EPS becomes a reality. After $0.76 actual earnings per share reported by Equity Residential for the previous quarter, Wall Street now forecasts 1.32% EPS growth.
Equity Residential (NYSE:EQR) Ratings Coverage
Out of 18 analysts covering Equity Residential (NYSE:EQR), 5 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 28% are positive. $91 is the highest target while $66 is the lowest. The $79.23 average target is 26.81% above today’s ($62.48) stock price. Equity Residential has been the topic of 38 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was initiated by BB&T Capital on Tuesday, November 10 with “Hold”. SunTrust initiated it with “Neutral” rating and $81 target price in Tuesday, July 21 report. The firm has “Equal Weight” rating given on Wednesday, August 5 by Barclays Capital. The rating was maintained by SunTrust with “Buy” on Thursday, August 4. As per Monday, February 8, the company rating was maintained by RBC Capital Markets. The stock of Equity Residential (NYSE:EQR) earned “Buy” rating by Janney Capital on Wednesday, May 18. On Tuesday, October 27 the stock rating was maintained by Mizuho with “Buy”. Sandler O’Neill downgraded the stock to “Hold” rating in Tuesday, October 27 report. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, May 2 report. On Wednesday, June 8 the stock rating was downgraded by Jefferies to “Hold”.
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 increased to 1.14 in 2016 Q2. Its up 0.22, from 0.92 in 2016Q1. The ratio increased, 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.
Chicago Equity Partners Llc last reported 7,860 shares in the company. City Company accumulated 51 shares or 0% of the stock. Moody Bank & Trust Trust Division owns 9,400 shares or 0.04% of their US portfolio. Federated Invsts Inc Pa has invested 0.04% of its portfolio in Equity Residential (NYSE:EQR). Dimensional Fund Advsrs Lp, a Texas-based fund reported 4.76 million shares. M&T Bancorp Corp has 0.05% invested in the company for 101,143 shares. The Maine-based Spinnaker Trust has invested 0.11% in Equity Residential (NYSE:EQR). Doheny Asset Mngmt Ca owns 3,000 shares or 0.1% of their US portfolio. Retirement Of Alabama holds 0.08% or 186,337 shares in its portfolio. Ww Investors, a California-based fund reported 1.58M shares. Johnson Invest Counsel Incorporated has 0.03% invested in the company for 11,120 shares. 1832 Asset L P has invested 0.08% of its portfolio in Equity Residential (NYSE:EQR). Sumitomo Life Insurance Com holds 0.33% of its portfolio in Equity Residential (NYSE:EQR) for 35,283 shares. Amici Ltd Liability Corporation last reported 0.26% of its portfolio in the stock. Euclid Advisors Ltd has 85,546 shares for 0.26% of their US portfolio.
More notable recent Equity Residential (NYSE:EQR) news were published by: Reuters.com which released: “BRIEF-Equity residential reaffirms its full year same store revenue growth…” on September 27, 2016, also Reuters.com with their article: “BRIEF-Equity Residential declares special cash dividend of $3 per share” published on September 14, 2016, Businesswire.com published: “Equity Residential Announces Third Quarter 2016 Earnings Release Date” on September 27, 2016. More interesting news about Equity Residential (NYSE:EQR) were released by: Zacks.com and their article: “Equity Residential to Pay $3 Special Dividend on Asset Sale” published on September 15, 2016 as well as Finance.Yahoo.com‘s news article titled: “Equity Residential (EQR) On Track to Meet Full-Year Guidance” with publication date: September 28, 2016.
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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