Equity Residential Receives Average Rating of “Hold” from Analysts (NYSE:EQR)
Equity Residential (NYSE:EQR) has been given an average recommendation of “Hold” by the seventeen ratings firms that are presently covering the company, Analyst Ratings Net reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $61.97.
Shares of Equity Residential (NYSE:EQR) opened at 66.47 on Wednesday. Equity Residential has a one year low of $50.08 and a one year high of $67.43. The stock’s 50-day moving average is $65.44 and its 200-day moving average is $61.45. The company has a market cap of $24.045 billion and a price-to-earnings ratio of 35.28.
Equity Residential (NYSE:EQR) last released its earnings data 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 previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that Equity Residential will post $3.10 EPS for the current fiscal year.
In other Equity Residential news, EVP Bruce C. Strohm sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $67.11, for a total transaction of $1,342,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. 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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