Capital One Financial Corp. Initiates Coverage on Equity Residential (EQR)
In other Equity Residential news, EVP Bruce C. Strohm sold 20,000 shares of Equity Residential stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $67.11, for a total transaction of $1,342,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several other analysts have also 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Equity Residential presently has an average rating of “Hold” and a consensus price target of $61.97.
Shares of Equity Residential (NYSE:EQR) opened at 66.61 on Tuesday. Equity Residential has a 52 week low of $50.08 and a 52 week high of $67.43. The stock has a 50-day moving average of $65.44 and a 200-day moving average of $61.45. The company has a market cap of $24.096 billion and a P/E ratio of 35.43.
Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters 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.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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