Research analysts at Stifel Nicolaus began coverage on shares of Equity Residential (NYSE:EQR) in a research note issued on Friday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $71.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ price target points to a potential upside of 5.73% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. BidaskClub cut Equity Residential from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Tuesday, July 18th. TheStreet cut Equity Residential from a “b” rating to a “c+” rating in a report on Wednesday, May 17th. Jefferies Group LLC reissued a “hold” rating and set a $61.00 target price on shares of Equity Residential in a report on Tuesday, May 30th. Finally, Bank of America Corporation raised Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Equity Residential presently has a consensus rating of “Hold” and an average price target of $68.21.

Equity Residential (EQR) traded up 0.40% during trading on Friday, reaching $67.42. The company’s stock had a trading volume of 205,413 shares. The firm has a market capitalization of $24.76 billion, a P/E ratio of 30.17 and a beta of 0.34. Equity Residential has a one year low of $58.28 and a one year high of $68.83. The stock has a 50-day moving average of $67.25 and a 200 day moving average of $65.17.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The business had revenue of $612.48 million during the quarter, compared to analysts’ expectations of $609.37 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Equity Residential will post $1.48 EPS for the current fiscal year.

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In related news, CEO David J. Neithercut sold 75,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $68.10, for a total value of $5,107,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David J. Neithercut sold 49,369 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $68.02, for a total value of $3,358,079.38. The disclosure for this sale can be found here. Insiders sold 179,336 shares of company stock valued at $12,188,612 over the last quarter. 3.79% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EQR. Aperio Group LLC raised its position in shares of Equity Residential by 17.8% in the second quarter. Aperio Group LLC now owns 164,732 shares of the real estate investment trust’s stock valued at $10,844,000 after buying an additional 24,926 shares during the last quarter. Colony Group LLC raised its position in shares of Equity Residential by 45.0% in the first quarter. Colony Group LLC now owns 21,417 shares of the real estate investment trust’s stock valued at $1,333,000 after buying an additional 6,646 shares during the last quarter. Green Street Investors LLC raised its position in shares of Equity Residential by 66.8% in the first quarter. Green Street Investors LLC now owns 211,300 shares of the real estate investment trust’s stock valued at $13,147,000 after buying an additional 84,600 shares during the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Equity Residential by 7.9% in the second quarter. Virginia Retirement Systems ET AL now owns 343,887 shares of the real estate investment trust’s stock valued at $22,638,000 after buying an additional 25,300 shares during the last quarter. Finally, Land & Buildings Investment Management LLC purchased a new position in Equity Residential during the first quarter worth approximately $15,692,000. Institutional investors own 91.10% 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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