Equity Residential (NYSE:EQR)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group LLC in a report released on Sunday, September 10th. They currently have a $65.00 price objective on the real estate investment trust’s stock. Jefferies Group LLC’s target price suggests a potential downside of 2.58% from the stock’s previous close. Jefferies Group also issued estimates for Equity Residential’s Q3 2017 earnings at $0.78 EPS, Q4 2017 earnings at $0.80 EPS, FY2017 earnings at $3.10 EPS and FY2018 earnings at $3.34 EPS.
Other equities analysts have also recently issued reports about the stock. UBS AG cut shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a research note on Thursday, July 6th. BidaskClub raised shares of Equity Residential from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. BMO Capital Markets reaffirmed a “hold” rating and set a $66.00 price target on shares of Equity Residential in a research note on Thursday, May 25th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. Finally, 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 note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $68.21.
Shares of Equity Residential (EQR) opened at 66.72 on Friday. The firm has a 50-day moving average of $67.53 and a 200 day moving average of $65.65. The company has a market capitalization of $24.51 billion, a P/E ratio of 29.85 and a beta of 0.36. Equity Residential has a 52-week low of $58.28 and a 52-week high of $68.83.
Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share 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 net margin of 33.99% and a return on equity of 7.92%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $0.76 EPS. On average, analysts anticipate that Equity Residential will post $1.48 EPS for the current year.
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In other Equity Residential news, EVP Bruce C. Strohm sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $68.00, for a total transaction of $1,700,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David S. Santee sold 10,967 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $67.93, for a total value of $744,988.31. The disclosure for this sale can be found here. Insiders have sold a total of 173,622 shares of company stock valued at $11,816,599 in the last ninety days. Insiders own 3.79% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in shares of Equity Residential by 124.6% during the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 872 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Equity Residential by 4.1% during the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 73 shares in the last quarter. Sun Life Financial INC lifted its holdings in shares of Equity Residential by 22,450.0% during the second quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 2,694 shares in the last quarter. Prudential PLC acquired a new stake in shares of Equity Residential during the second quarter worth $209,000. Finally, Girard Partners LTD. acquired a new stake in shares of Equity Residential during the second quarter worth $209,000. 91.04% of the stock is owned by 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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