Robert W. Baird reaffirmed their hold rating on shares of Equity Residential (NYSE:EQR) in a report issued on Friday, November 10th. They currently have a $70.00 price target on the real estate investment trust’s stock.
A number of other brokerages have also issued reports on EQR. Stifel Nicolaus initiated coverage on Equity Residential in a research report on Friday, September 1st. They set a hold rating and a $71.00 price target for the company. Barclays PLC boosted their price target on Equity Residential from $65.00 to $66.00 and gave the stock an equal weight rating in a research report on Tuesday, August 1st. TheStreet downgraded Equity Residential from a b rating to a c+ rating in a research note on Tuesday, October 24th. SunTrust Banks, Inc. set a $71.00 price objective on Equity Residential and gave the stock a buy rating in a research note on Tuesday, October 24th. Finally, BMO Capital Markets reissued a hold rating and issued a $68.00 price objective on shares of Equity Residential in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Equity Residential currently has a consensus rating of Hold and a consensus price target of $69.40.
Equity Residential (NYSE:EQR) opened at $68.14 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 0.24. Equity Residential has a 12-month low of $58.45 and a 12-month high of $70.46. The stock has a market capitalization of $25,025.71, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 3.44 and a beta of 0.37.
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In other Equity Residential news, CEO David J. Neithercut sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $70.17, for a total value of $7,017,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bruce C. Strohm sold 10,000 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were 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 412,380 shares of company stock worth $28,348,622 in the last quarter. 3.79% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Equity Residential by 2.3% in the second quarter. BlackRock Inc. now owns 34,594,954 shares of the real estate investment trust’s stock valued at $2,277,386,000 after purchasing an additional 794,065 shares in the last quarter. APG Asset Management US Inc. grew its stake in Equity Residential by 1.8% in the second quarter. APG Asset Management US Inc. now owns 15,060,400 shares of the real estate investment trust’s stock valued at $991,426,000 after purchasing an additional 269,599 shares in the last quarter. Cohen & Steers Inc. grew its stake in Equity Residential by 109.4% in the third quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after purchasing an additional 7,600,203 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Equity Residential by 113.9% in the third 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 purchasing an additional 4,112,438 shares in the last quarter. Finally, PGGM Investments grew its stake in Equity Residential by 1.7% in the third quarter. PGGM Investments now owns 7,272,978 shares of the real estate investment trust’s stock valued at $479,507,000 after purchasing an additional 121,040 shares in the last quarter. Hedge funds and other institutional investors own 91.63% 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.
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