Equity Residential (NYSE:EQR) has been given a $71.00 price objective by SunTrust Banks, Inc. in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 7.92% from the company’s current price.

Several other research analysts also recently weighed in on EQR. Royal Bank Of Canada reissued a “hold” rating and issued a $70.00 target price on shares of Equity Residential in a research report on Friday, October 20th. Zacks Investment Research downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Jefferies Group LLC reissued a “hold” rating and issued a $65.00 target price on shares of Equity Residential in a research report on Sunday, September 10th. BMO Capital Markets reissued a “hold” rating and issued a $68.00 target price on shares of Equity Residential in a research report on Wednesday, September 6th. Finally, Stifel Nicolaus assumed coverage on shares of Equity Residential in a research report on Friday, September 1st. They issued a “hold” rating and a $71.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $68.57.

Shares of Equity Residential (EQR) opened at 65.79 on Tuesday. Equity Residential has a one year low of $58.28 and a one year high of $68.83. The stock has a market cap of $24.17 billion, a P/E ratio of 29.44 and a beta of 0.37. The firm has a 50 day moving average of $66.72 and a 200 day moving average of $66.32.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The company had revenue of $624.12 million for the quarter, compared to analysts’ expectations of $617.54 million. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. On average, equities research analysts predict that Equity Residential will post $1.48 EPS for the current fiscal year.

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In other Equity Residential news, CEO David J. Neithercut sold 75,000 shares of Equity Residential stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $68.10, for a total value of $5,107,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bruce C. Strohm sold 10,000 shares of Equity Residential stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $68.50, for a total transaction of $685,000.00. The disclosure for this sale can be found here. Insiders sold 173,622 shares of company stock valued at $11,816,599 over the last quarter. Corporate insiders own 3.79% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of EQR. Municipal Employees Retirement System of Michigan raised its position in shares of Equity Residential by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,560 shares of the real estate investment trust’s stock valued at $744,000 after purchasing an additional 30 shares during the period. Anchor Capital Advisors LLC raised its position in shares of Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 50 shares during the period. Delta Asset Management LLC TN raised 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 valued at $125,000 after purchasing an additional 57 shares during the period. Dynamic Technology Lab Private Ltd raised its position in shares of Equity Residential by 1.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 3,558 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 64 shares during the period. Finally, 1st Global Advisors Inc. raised its position in shares of Equity Residential by 0.5% in the third quarter. 1st Global Advisors Inc. now owns 13,985 shares of the real estate investment trust’s stock valued at $900,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 91.04% of the company’s stock.

About Equity Residential

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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