Equity Residential (NYSE:EQR) PT Raised to $76.00

Equity Residential (NYSE:EQR) had its price objective hoisted by research analysts at Evercore ISI from $75.00 to $76.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price indicates a potential downside of 1.71% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. BNP Paribas started coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target on the stock. Truist Financial upped their target price on Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Wedbush upped their price objective on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.62.

Equity Residential Trading Down 0.6 %

Shares of NYSE:EQR opened at $77.32 on Monday. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. Equity Residential has a 52-week low of $52.57 and a 52-week high of $78.83. The stock has a market cap of $29.35 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 4.27 and a beta of 0.89. The business has a 50-day moving average price of $72.16 and a 200-day moving average price of $67.39.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.49). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business had revenue of $734.20 million during the quarter, compared to analyst estimates of $735.26 million. During the same quarter last year, the company posted $0.94 EPS. Equity Residential’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that Equity Residential will post 3.89 EPS for the current year.

Insider Buying and Selling

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $69.08, for a total transaction of $439,141.56. Following the completion of the sale, the chief financial officer now directly owns 14,576 shares in the company, valued at approximately $1,006,910.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Equity Residential

Institutional investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in Equity Residential in the 1st quarter valued at $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Equity Residential during the fourth quarter worth $33,000. Massmutual Trust Co. FSB ADV raised its position in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 155 shares during the last quarter. HHM Wealth Advisors LLC raised its position in shares of Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 327 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Equity Residential in the first quarter worth about $41,000. 92.68% of the stock is owned by institutional investors and hedge funds.

Equity Residential Company Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.