Equity Residential (NYSE:EQR) PT Raised to $81.00

Equity Residential (NYSE:EQR) had its price objective increased by investment analysts at Scotiabank from $77.00 to $81.00 in a report issued on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential upside of 4.76% from the stock’s current price.

EQR has been the topic of a number of other research reports. Piper Sandler lifted their target price on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wedbush lifted their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Evercore ISI boosted their target price on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday. Finally, UBS Group increased their price target on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.62.

Equity Residential Price Performance

EQR stock opened at $77.32 on Monday. The company’s 50-day moving average price is $72.16 and its two-hundred day moving average price is $67.39. The firm has a market cap of $29.35 billion, a P/E ratio of 32.08, a P/E/G ratio of 4.27 and a beta of 0.89. 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 12 month low of $52.57 and a 12 month high of $78.83.

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

Insider Buying and Selling

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were 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 owns 14,576 shares of the company’s stock, valued at approximately $1,006,910.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Trading of Equity Residential

Institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of Equity Residential in the 1st quarter valued at about $27,000. Voisard Asset Management Group Inc. acquired a new position in Equity Residential in the fourth quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 155 shares in the last quarter. HHM Wealth Advisors LLC boosted its holdings in shares of Equity Residential by 146.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 327 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Equity Residential during the 1st quarter worth approximately $41,000. Institutional investors own 92.68% of the company’s stock.

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.