Equity Residential Receives Consensus Recommendation of “Hold” from Analysts (NYSE:EQR)
Shares of Equity Residential (NYSE:EQR) have received an average rating of “Hold” from the seventeen analysts that are covering the stock, American Banking & Market News reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $61.97.
Shares of Equity Residential (NYSE:EQR) traded up 0.20% on Wednesday, hitting $66.35. 119,291 shares of the company’s stock traded hands. Equity Residential has a 1-year low of $50.08 and a 1-year high of $67.43. The stock’s 50-day moving average is $65.16 and its 200-day moving average is $61.28. The company has a market cap of $24.002 billion and a price-to-earnings ratio of 35.30.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the 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 in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts predict that Equity Residential will post $3.10 earnings per share for the current fiscal year.
In other Equity Residential news, EVP Bruce C. Strohm sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $67.11, for a total transaction of $1,342,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on EQR. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Equity Residential in a research note on Wednesday, August 20th. They now have a $66.00 price target on the stock, up previously from $64.00. Separately, analysts at Jefferies Group upgraded shares of Equity Residential from an “underperform” rating to a “hold” rating in a research note on Monday, August 18th. They now have a $62.00 price target on the stock, up previously from $55.00. Finally, 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.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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