Equity Residential (EQR) Upgraded to “Buy” at Edward Jones

Equity Residential (NYSE:EQR) was upgraded by Edward Jones from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Several other equities research analysts have also recently weighed in on the stock. TheStreet cut shares of Equity Residential from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Robert W. Baird reaffirmed a “hold” rating and issued a $70.00 price target on shares of Equity Residential in a research report on Friday, November 10th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $70.00 price target on shares of Equity Residential in a research report on Friday, October 20th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $69.00 price target on shares of Equity Residential in a research report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $69.13.

Equity Residential (NYSE:EQR) traded down $0.54 during trading on Tuesday, reaching $60.42. 1,460,100 shares of the company’s stock traded hands, compared to its average volume of 1,682,022. The stock has a market cap of $22,203.43, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.93 and a beta of 0.36. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 0.24. Equity Residential has a 12 month low of $59.49 and a 12 month high of $70.46.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.42). Equity Residential had a net margin of 30.88% and a return on equity of 7.22%. research analysts predict that Equity Residential will post 3.12 earnings per share for the current year.

In related news, insider Mark J. Parrell sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $68.00, for a total transaction of $3,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Samuel Zell sold 91,651 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $67.17, for a total transaction of $6,156,197.67. The disclosure for this sale can be found here. In the last quarter, insiders have sold 402,380 shares of company stock valued at $27,663,622. 3.79% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ING Groep increased its stake in Equity Residential by 9.0% during the 3rd quarter. ING Groep now owns 1,043,363 shares of the real estate investment trust’s stock valued at $78,377,000 after purchasing an additional 86,150 shares in the last quarter. Nisa Investment Advisors increased its stake in Equity Residential by 19.0% during the 4th quarter. Nisa Investment Advisors now owns 80,907 shares of the real estate investment trust’s stock valued at $6,601,000 after purchasing an additional 12,900 shares in the last quarter. Capital Impact Advisors increased its stake in Equity Residential by 197.2% during the 4th quarter. Capital Impact Advisors now owns 6,480 shares of the real estate investment trust’s stock valued at $529,000 after purchasing an additional 4,300 shares in the last quarter. Churchill Management increased its stake in Equity Residential by 2.5% during the 4th quarter. Churchill Management now owns 24,746 shares of the real estate investment trust’s stock valued at $2,019,000 after purchasing an additional 611 shares in the last quarter. Finally, Chevy Chase Trust Holdings increased its stake in Equity Residential by 0.7% during the 4th quarter. Chevy Chase Trust Holdings now owns 300,933 shares of the real estate investment trust’s stock valued at $24,553,000 after purchasing an additional 2,177 shares in the last quarter. Hedge funds and other institutional investors own 94.04% of the company’s stock.

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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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