Equity Residential (NYSE:EQR) Given “Hold” Rating at BMO Capital Markets

Equity Residential (NYSE:EQR)‘s stock had its “hold” rating reiterated by stock analysts at BMO Capital Markets in a report issued on Wednesday, September 6th. They presently have a $68.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential upside of 0.58% from the stock’s current price.

Several other equities analysts also recently issued reports on EQR. UBS AG downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Thursday, July 6th. BidaskClub downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. Barclays PLC increased their price target on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 1st. Finally, Deutsche Bank AG increased their price target on shares of Equity Residential from $67.00 to $69.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $68.21.

Shares of Equity Residential (EQR) traded down 0.27% during trading on Wednesday, hitting $67.43. The stock had a trading volume of 387,768 shares. The firm has a market cap of $24.77 billion, a P/E ratio of 30.17 and a beta of 0.36. The firm has a 50 day moving average price of $67.53 and a 200 day moving average price of $65.50. Equity Residential has a 12-month low of $58.28 and a 12-month high of $68.83.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data 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. The business had revenue of $612.48 million for the quarter, compared to the consensus estimate of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 earnings per share. On average, equities analysts expect that Equity Residential will post $1.48 earnings per share for the current fiscal year.

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In other Equity Residential news, CEO David J. Neithercut sold 49,369 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $68.02, for a total transaction of $3,358,079.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Neithercut sold 75,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $68.10, for a total transaction of $5,107,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,622 shares of company stock valued at $11,816,599. 3.79% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank lifted its position in shares of Equity Residential by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 124,375 shares of the real estate investment trust’s stock worth $8,186,000 after buying an additional 25,330 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Equity Residential by 1.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,558 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 64 shares during the last quarter. Gofen & Glossberg LLC IL lifted its position in shares of Equity Residential by 2.6% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 39,864 shares of the real estate investment trust’s stock worth $2,624,000 after buying an additional 1,005 shares during the last quarter. Koch Industries Inc. lifted its position in shares of Equity Residential by 10,279.5% in the 2nd quarter. Koch Industries Inc. now owns 383,938 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 380,239 shares during the last quarter. Finally, 1st Global Advisors Inc. lifted its position in shares of Equity Residential by 1.6% in the 2nd quarter. 1st Global Advisors Inc. now owns 15,020 shares of the real estate investment trust’s stock worth $989,000 after buying an additional 241 shares during the last quarter. Institutional investors own 91.11% of the company’s stock.

Equity Residential Company Profile

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.

Analyst Recommendations for Equity Residential (NYSE:EQR)




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