Scotiabank set a $71.00 price target on Equity Residential (NYSE:EQR) in a report published on Monday. The firm currently has a buy rating on the real estate investment trust’s stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Equity Residential from a hold rating to a buy rating and set a $74.00 price target for the company in a report on Friday, October 26th. BMO Capital Markets boosted their price target on shares of Equity Residential from $68.00 to $69.00 and gave the stock a market perform rating in a report on Wednesday, October 24th. Stifel Nicolaus boosted their price target on shares of Equity Residential from $60.00 to $68.00 and gave the stock a hold rating in a report on Thursday, July 26th. Mizuho reiterated a buy rating and set a $76.00 price target on shares of Equity Residential in a report on Monday, August 6th. Finally, SunTrust Banks cut shares of Equity Residential from a buy rating to a hold rating and set a $71.00 price target for the company. in a report on Tuesday, August 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $68.82.
NYSE EQR opened at $68.76 on Monday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.85. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.09. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 3.48 and a beta of 0.40.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.23). Equity Residential had a return on equity of 6.37% and a net margin of 26.01%. The firm had revenue of $652.87 million for the quarter, compared to analyst estimates of $645.77 million. During the same quarter last year, the firm earned $0.37 EPS. The company’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts expect that Equity Residential will post 3.26 EPS for the current fiscal year.
In other news, insider Christa L. Sorenson sold 2,408 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $66.00, for a total value of $158,928.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David J. Neithercut sold 20,000 shares of the company’s stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $66.00, for a total transaction of $1,320,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,238 shares of company stock valued at $8,648,795. Company insiders own 3.75% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Landaas & Co. WI ADV acquired a new stake in Equity Residential during the 2nd quarter worth $101,000. Stelac Advisory Services LLC acquired a new stake in Equity Residential during the 3rd quarter worth $120,000. Bbva Compass Bancshares Inc. acquired a new stake in Equity Residential during the 3rd quarter worth $137,000. Lenox Wealth Management Inc. acquired a new stake in Equity Residential during the 3rd quarter worth $426,000. Finally, Girard Partners LTD. acquired a new stake in Equity Residential during the 2nd quarter worth $203,000. Institutional investors and hedge funds own 87.08% of the company’s stock.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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