Equity Residential (NYSE:EQR) had its price objective lowered by stock analysts at Stifel Nicolaus from $64.00 to $60.00 in a report released on Thursday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price target points to a potential downside of 2.61% from the stock’s current price.
A number of other research firms have also recently commented on EQR. Robert W. Baird reiterated a “hold” rating and set a $70.00 target price on shares of Equity Residential in a research report on Friday, November 10th. TheStreet cut Equity Residential from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. Zacks Investment Research cut Equity Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. SunTrust Banks set a $71.00 target price on Equity Residential and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $70.00 price target on shares of Equity Residential in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.47.
Shares of Equity Residential (EQR) opened at $61.61 on Thursday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86. Equity Residential has a 52-week low of $59.49 and a 52-week high of $70.46. The company has a market capitalization of $22,258.55, a PE ratio of 37.80, a PEG ratio of 2.94 and a beta of 0.36.
In related news, EVP Bruce C. Strohm sold 22,906 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $69.21, for a total value of $1,585,324.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark J. Parrell sold 45,400 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $68.00, for a total value of $3,087,200.00. The disclosure for this sale can be found here. Insiders sold a total of 309,129 shares of company stock worth $21,398,608 in the last 90 days. 3.79% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQR. BlackRock Inc. increased its position in Equity Residential by 2,486.4% during the 1st quarter. BlackRock Inc. now owns 33,800,889 shares of the real estate investment trust’s stock worth $2,103,090,000 after purchasing an additional 32,494,035 shares during the period. Macquarie Group Ltd. increased its position in Equity Residential by 1,425.3% during the 4th quarter. Macquarie Group Ltd. now owns 12,050,701 shares of the real estate investment trust’s stock worth $775,583,000 after purchasing an additional 11,260,624 shares during the period. Cohen & Steers Inc. increased its position in Equity Residential by 109.4% during the 3rd quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock worth $959,197,000 after purchasing an additional 7,600,203 shares during the period. Price T Rowe Associates Inc. MD increased its position in Equity Residential by 83.4% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 10,857,263 shares of the real estate investment trust’s stock worth $698,448,000 after purchasing an additional 4,937,766 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Equity Residential by 113.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,724,194 shares of the real estate investment trust’s stock worth $509,256,000 after purchasing an additional 4,112,438 shares during the period. Institutional investors own 94.08% of the company’s stock.
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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.
