Equity Residential (NYSE:EQR) had its price objective hoisted by stock analysts at Deutsche Bank AG from $67.00 to $69.00 in a research report issued on Friday. The firm presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank AG’s price target suggests a potential upside of 2.72% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Barclays PLC upped their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 1st. TheStreet upgraded shares of Equity Residential from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Bank of America Corporation upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, June 16th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $68.00.

Equity Residential (EQR) traded down 0.71% during trading on Friday, hitting $67.17. 2,942,273 shares of the company’s stock traded hands. The company’s 50 day moving average is $66.74 and its 200-day moving average is $64.74. The stock has a market cap of $24.67 billion, a P/E ratio of 30.05 and a beta of 0.34. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. The business had revenue of $612.48 million for the quarter, compared to analysts’ expectations of $609.37 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, analysts predict that Equity Residential will post $1.44 earnings per share for the current year.

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In related news, insider Alan W. George sold 28,157 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $65.93, for a total transaction of $1,856,391.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark S. Shapiro sold 2,853 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $67.30, for a total transaction of $192,006.90. Following the transaction, the director now owns 2,573 shares in the company, valued at approximately $173,162.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,124 shares of company stock worth $3,945,054. 3.79% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EQR. Bessemer Group Inc. increased its position in shares of Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 872 shares during the period. Financial Architects Inc increased its position in shares of Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 94 shares during the period. D.A. Davidson & CO. increased its position in shares of Equity Residential by 4.1% in the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 73 shares during the period. Delta Asset Management LLC TN increased its position in shares of Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 57 shares during the period. Finally, Sun Life Financial INC increased its position in shares of Equity Residential by 22,450.0% in the second quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 2,694 shares during the period. Institutional investors own 91.81% of the company’s stock.

Equity Residential Company Profile

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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