Equity Residential (NYSE:EQR)‘s stock had its “hold” rating restated by BMO Capital Markets in a report released on Wednesday, September 6th. They currently have a $68.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ target price would suggest a potential upside of 1.92% from the stock’s previous close.
EQR has been the subject of several other reports. TheStreet lowered Equity Residential from a “b” rating to a “c+” rating in a research report on Wednesday, May 17th. BidaskClub lowered Equity Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Bank of America Corporation upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday, June 16th. Deutsche Bank AG lifted their target price on Equity Residential from $67.00 to $69.00 and gave the company a “hold” rating in a report on Friday, August 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $68.21.
Shares of Equity Residential (NYSE:EQR) opened at 66.47 on Wednesday. The company has a market capitalization of $24.42 billion, a PE ratio of 29.74 and a beta of 0.36. Equity Residential has a 52 week low of $58.28 and a 52 week high of $68.83. The company has a 50-day moving average price of $67.53 and a 200-day moving average price of $65.65.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. Analysts predict that Equity Residential will post $1.48 earnings per share for the current year.
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In other news, insider David S. Santee sold 10,967 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $67.93, for a total transaction of $744,988.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bruce C. Strohm sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $68.50, for a total value of $685,000.00. 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 in the last quarter. 3.79% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Aperio Group LLC lifted its stake in Equity Residential by 17.8% in the 2nd quarter. Aperio Group LLC now owns 164,732 shares of the real estate investment trust’s stock valued at $10,844,000 after buying an additional 24,926 shares in the last quarter. Colony Group LLC lifted its stake in Equity Residential by 45.0% in the 1st quarter. Colony Group LLC now owns 21,417 shares of the real estate investment trust’s stock valued at $1,333,000 after buying an additional 6,646 shares in the last quarter. Virginia Retirement Systems ET AL lifted its stake in Equity Residential by 7.9% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 343,887 shares of the real estate investment trust’s stock valued at $22,638,000 after buying an additional 25,300 shares in the last quarter. Green Street Investors LLC lifted its stake in Equity Residential by 66.8% in the 1st quarter. Green Street Investors LLC now owns 211,300 shares of the real estate investment trust’s stock valued at $13,147,000 after buying an additional 84,600 shares in the last quarter. Finally, Land & Buildings Investment Management LLC purchased a new stake in Equity Residential in the 1st quarter valued at approximately $15,692,000. 91.04% of the stock is currently owned by hedge funds and other institutional investors.
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.
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