Equity Residential (EQR) PT Raised to $67.00

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Equity Residential (NYSE:EQR) had its target price increased by Deutsche Bank from $66.00 to $67.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank’s target price would suggest a potential downside of 1.46% from the company’s current price.

A number of other research firms also recently issued reports on EQR. Robert W. Baird reissued a “hold” rating and issued a $66.00 price target on shares of Equity Residential in a research note on Thursday, August 16th. Mizuho reissued a “buy” rating and issued a $76.00 price target on shares of Equity Residential in a research note on Monday, August 6th. SunTrust Banks downgraded shares of Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a research note on Tuesday, August 14th. ValuEngine raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Finally, Stifel Nicolaus boosted their price target on shares of Equity Residential from $60.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.57.

Equity Residential stock opened at $67.99 on Wednesday. The company has a market capitalization of $24.95 billion, a PE ratio of 21.61, a P/E/G ratio of 3.51 and a beta of 0.37. Equity Residential has a 1 year low of $54.97 and a 1 year high of $70.46. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.84.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $639.62 million for the quarter, compared to the consensus estimate of $637.34 million. Equity Residential had a net margin of 23.27% and a return on equity of 5.63%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. research analysts forecast that Equity Residential will post 3.24 EPS for the current year.

In related news, CEO David J. Neithercut sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $64.50, for a total transaction of $1,612,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.75% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in Equity Residential by 9.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 15,939 shares of the real estate investment trust’s stock worth $1,015,000 after buying an additional 1,419 shares during the period. Mount Yale Investment Advisors LLC increased its stake in Equity Residential by 36.8% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 6,155 shares of the real estate investment trust’s stock worth $392,000 after buying an additional 1,656 shares during the period. Global X Management Co LLC increased its stake in Equity Residential by 41.5% during the 2nd quarter. Global X Management Co LLC now owns 17,682 shares of the real estate investment trust’s stock worth $1,126,000 after buying an additional 5,188 shares during the period. Verition Fund Management LLC increased its stake in Equity Residential by 305.0% during the 2nd quarter. Verition Fund Management LLC now owns 31,030 shares of the real estate investment trust’s stock worth $1,976,000 after buying an additional 23,368 shares during the period. Finally, California Public Employees Retirement System increased its stake in Equity Residential by 25.2% during the 2nd quarter. California Public Employees Retirement System now owns 1,058,849 shares of the real estate investment trust’s stock worth $67,438,000 after buying an additional 213,117 shares during the period. 87.42% of the stock is currently owned by hedge funds and other institutional investors.

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 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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