Equity Residential (NYSE:EQR)‘s stock had its “hold” rating reiterated by BMO Capital Markets in a report issued on Wednesday, September 6th. They presently have a $68.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ price target suggests a potential upside of 0.18% from the stock’s previous close.
Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Stifel Nicolaus started coverage on shares of Equity Residential in a research report on Friday, September 1st. They issued a “hold” rating and a $71.00 price target for the company. Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Tuesday, July 18th. TheStreet downgraded shares of Equity Residential from a “b” rating to a “c+” rating in a research report on Wednesday, May 17th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $67.00 price target on shares of Equity Residential in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.21.
Equity Residential (EQR) traded up 0.73% during midday trading on Wednesday, reaching $67.88. 3,190,161 shares of the company traded hands. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The firm has a market capitalization of $24.93 billion, a price-to-earnings ratio of 30.37 and a beta of 0.36. The firm’s 50 day moving average price is $67.58 and its 200 day moving average price is $65.55.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The business had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. During the same quarter last year, the firm posted $0.76 EPS. Equity Residential’s revenue was up 2.9% compared to the same quarter last year. On average, analysts expect that Equity Residential will post $1.48 earnings per share for the current year.
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In related news, EVP Bruce C. Strohm sold 10,000 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $68.50, for a total value of $685,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David J. Neithercut sold 49,369 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $68.02, for a total value of $3,358,079.38. The disclosure for this sale can be found here. Insiders have sold a total of 173,622 shares of company stock worth $11,816,599 over the last quarter. Company insiders own 3.79% of the company’s stock.
A number of institutional investors have recently made changes to their positions in EQR. Bessemer Group Inc. raised its stake in Equity Residential by 124.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 872 shares during the period. D.A. Davidson & CO. raised its stake in Equity Residential by 4.1% in the 2nd quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 73 shares during the period. Sun Life Financial INC raised its stake in Equity Residential by 22,450.0% in the 2nd quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 2,694 shares during the period. Girard Partners LTD. bought a new stake in Equity Residential in the 2nd quarter valued at about $209,000. Finally, Prudential PLC bought a new stake in Equity Residential in the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 91.11% of the company’s stock.
About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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