Equity Residential (NYSE:EQR)‘s stock had its “neutral” rating restated by JPMorgan Chase & Co. in a report issued on Wednesday. They presently have a $66.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $69.00. JPMorgan Chase & Co.’s price target indicates a potential upside of 17.50% from the stock’s current price.
A number of other research analysts have also issued reports on EQR. SunTrust Banks set a $71.00 target price on shares of Equity Residential and gave the company a “buy” rating in a research note on Tuesday, October 24th. Zacks Investment Research upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. TheStreet lowered shares of Equity Residential from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. Stifel Nicolaus decreased their price target on shares of Equity Residential from $71.00 to $68.00 and set a “hold” rating on the stock in a research report on Friday, October 27th. Finally, Mizuho upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Equity Residential has an average rating of “Hold” and an average price target of $67.75.
Equity Residential (NYSE EQR) opened at $56.17 on Wednesday. Equity Residential has a 12 month low of $54.97 and a 12 month high of $70.46. The company has a quick ratio of 0.24, a current ratio of 0.29 and a debt-to-equity ratio of 0.86. The stock has a market cap of $20,561.17, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.91 and a beta of 0.34.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.47). Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The firm had revenue of $630.50 million during the quarter, compared to analyst estimates of $625.83 million. During the same quarter in the previous year, the business posted $0.79 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. equities analysts anticipate that Equity Residential will post 3.23 earnings per share for the current fiscal year.
In other news, COO David S. Santee sold 5,589 shares of Equity Residential stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total transaction of $325,168.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Scott Fenster sold 449 shares of Equity Residential stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total transaction of $26,122.82. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock worth $819,000 over the last 90 days. Company insiders own 3.79% of the company’s stock.
Several institutional investors have recently modified their holdings of EQR. Cohen & Steers Inc. boosted its position in shares of Equity Residential by 109.4% during the 3rd quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after acquiring an additional 7,600,203 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Equity Residential by 113.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,724,194 shares of the real estate investment trust’s stock valued at $509,256,000 after acquiring an additional 4,112,438 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Equity Residential by 125.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,461,798 shares of the real estate investment trust’s stock valued at $227,925,000 after acquiring an additional 1,926,438 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Equity Residential during the 4th quarter valued at about $65,374,000. Finally, Renaissance Technologies LLC boosted its position in shares of Equity Residential by 329.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,001,600 shares of the real estate investment trust’s stock valued at $63,872,000 after acquiring an additional 768,179 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.
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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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