Equity Residential Receives Hold Rating from Deutsche Bank (EQR)
Equity Residential (NYSE:EQR)‘s stock had its “hold” rating reiterated by research analysts at Deutsche Bank in a report released on Wednesday. They currently have a $66.00 price target on the stock, up from their previous price target of $64.00. Deutsche Bank’s price target suggests a potential downside of 1.21% from the company’s current price.
Equity Residential (NYSE:EQR) traded up 0.50% during mid-day trading on Wednesday, hitting $67.145. The stock had a trading volume of 689,409 shares. Equity Residential has a 1-year low of $50.08 and a 1-year high of $66.90. The stock’s 50-day moving average is $64.74 and its 200-day moving average is $60.88. The company has a market cap of $24.289 billion and a price-to-earnings ratio of 35.61.
Equity Residential (NYSE:EQR) last released its earnings data on Tuesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.01. The company had revenue of $652.60 million for the quarter, compared to the consensus estimate of $644.28 million. During the same quarter last year, the company posted $0.71 earnings per share. Equity Residential’s revenue was up 5.7% compared to the same quarter last year. Analysts expect that Equity Residential will post $3.10 earnings per share for the current fiscal year.
EQR has been the subject of a number of other recent research reports. Analysts at Jefferies Group upgraded shares of Equity Residential from an “underperform” rating to a “hold” rating in a research note on Monday. They now have a $62.00 price target on the stock, up previously from $55.00. Separately, analysts at ISI Group raised their price target on shares of Equity Residential from $3.00 to $67.00 in a research note on Wednesday, July 30th. Finally, analysts at Mizuho initiated coverage on shares of Equity Residential in a research note on Wednesday, July 23rd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $61.97.
In other Equity Residential news, CEO David J. Neithercut sold 42,603 shares of Equity Residential stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $66.00, for a total transaction of $2,811,798.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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