As of Thursday close, Equity Residential’s (NYSE:EQR) stock was down -$1.41, moving down -2.26 percent to $61.01. The average number of shares traded per day over the past five days has been 1,296,760 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.20 fall in that time frame. In the last twenty days, the average volume was 1,370,370, while in the previous 50 days, it was 1,526,002.
Since last month, EQR stock retreated -3.50%. Shares of the company fell to $60.98 on 09/21/23, the lowest level in the past month. A 52-week high of $70.56 was reached on 07/24/23 after having rallying from a 52-week low of $54.60. Since the beginning of this year, EQR’s stock price has risen by 3.41% or $2.01, and marked a new high 16 times. However, the stock has declined by -13.53% since its 52-week high.
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EQR stock investors should be aware that Equity Residential (EQR) stock had its last reported insider trading activity 42 days ago on Aug 11. Manelis Michael L, the Executive Vice President & COO of the company, disposed of 2,500 shares for $66.04 on Aug 11. It resulted in a $165,100 divestment by the insider. SHAPIRO MARK S sold 42,435 shares at an average price of $61.91 on May 04. The insider now owns 12,497 shares following the transaction. On Feb 16, Director HABEN MARY KAY sold 3,354 shares at $66.23 apiece. The transaction was valued at $222,135.
Valuation Metrics
Right now, Equity Residential (EQR) has a P/E ratio of about 27.57. The stock’s beta is 0.84. Besides these, the trailing price-to-sales (P/S) ratio of 8.21, the price-to-book (PB) ratio of 2.10, and the price-to-cash flow ratio of 24.48 may also be considered.
The latest dividend of $0.6625 per share was paid out, remained unchanged from last year’s $0.6625.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.66, and the total debt-to-equity ratio was 0.68. On the profitability front, the trailing twelve-month gross margin is 63.90% percent. In the year ended June 29, operating margins totaled 41.60%. Based on annual data, EQR earned $1.12 billion in gross profit and brought in $2.74 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 6.00%. Return on equity (ROE) for the past 12 months was 7.50%.
In Equity Residential’s quarter-end financial report for June 29, it reported total debt of $1.91 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. EQR’s revenue rose 4.22% to $705.09 million during the quarter, while net income inched up to $717.31 million. While analysts expected Equity Residential to report $0.37 quarterly earnings, the actual figure was $0.37 per share. During the quarter, the company generated $447.01 million in EBITDA. The value of shareholders’ equity is $379.03 million.
Technical Picture
This quick technical analysis looks at Equity Residential’s (EQR) price momentum. With a historical volatility rate of 17.38%, the RSI 9-day stood at 27.69% on 21 September.
With respect to its five-day moving average, the current Equity Residential price is down by -3.48% percent or -$2.20. At present, EQR shares trade -4.92% below its 20-day simple moving average and -3.54% percent below its 100-day simple moving average. However, the stock is currently trading approximately -9.51% below its SMA50 and -4.84% below its SMA200.
Stochastic coefficient K was 6.71% and Stochastic coefficient D was 9.97%, while ATR was 1.07. Given the Stochastic reading of 0.72% for the 14-day period, the RSI (14) reading has been calculated as 31.90%. As of today, the MACD Oscillator reading stands at -0.65, while the 14-day reading stands at -1.03.
Analyst Ratings
Wells Fargo upgraded its rating on Equity Residential (NYSE: EQR) to an Overweight in a note to investors on September 05, 2023. The analysts firm previously had an Equal weight rating on the stock.Equity Residential (EQR) has been rated Overweight by analysts. According to 1 brokerage firm, EQR is a sell, and 12 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Equity Residential stock as buy, with 8 recommending it as overweight.
With a median target price of $70.00, the current consensus forecast for the stock is $68.00 – $83.00. Based on these forecasts, analysts predict Equity Residential (EQR) will achieve an average price target of $71.69.
