Equity Residential (NYSE:EQR – Get Ratings ) Stock Target Advisors reported that stock analysts cut their target price on Piper Sandler to $78.00 in a report issued on Monday. Piper Sandler’s price objective suggests a potential upside of 6.95% from the stock’s previous close.
A number of other equities analysts also recently issued reports on EQR. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Equity Residential from $94.00 to $93.00 and set a “hold” rating for the company in a research report on Thursday, March 24th. Credit Suisse Group initiated coverage on shares of Equity Residential in a research report on Wednesday, June 22nd. They issued an “outperform” rating and a $80.00 price target for the company. StockNews.com initiated coverage on shares of Equity Residential in a research report on Thursday, March 31st. They gave the company a “Hold” rating. Scotiabank lowered their price target on shares of Equity Residential from $92.00 to $90.00 in a research report on Thursday, May 19th. Finally, TheStreet cut shares of Equity Residential from a “b” rating to a “c+” rating in a research report on Friday, May 6th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Equity Residential presently has an average rating of “Hold” and an average price target of $84.47, according to data from MarketBeat.
Shares of EQR stock traded up $0.71 during midday trading on Monday, hitting $72.93. 64,556 shares of the company were exchanged, compared to its average volume of 1,802,522. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $27.42 billion, a P/E ratio of 20.37, a PEG ratio of 3.19 and a beta of 0.81. Equity Residential has a 52 week low of $67.48 and a 52 week high of $94.32. The firm’s 50 day moving average price is $75.44 and its two hundred day moving average price is $84.13.
Equity Residential (NYSE:EQR – Get Rating ) last announced its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.61). Equity Residential had a net margin of 53.42% and a return on equity of 12.35%. In the same quarter last year, the firm posted earnings of $0.68 per share. analysts expect that Equity Residential will post 3.45 EPS for the current year.
In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $70.10, for a total transaction of $467,216.50. Following the transaction, the director now owns 12,497 shares in the company, valued at $876,039.70. The transaction was disclosed in a filing with the SEC that can be accessed via this link. Corporate insiders own 2.30% of the company’s shares.
Several hedge funds have recently made changes to their positions in EQR. Allworth Financial LP purchased a new stake in shares of Equity Residential in the fourth quarter valued at about $29,000. UMB Bank NA MO bought a new stake in shares of Equity Residential in the fourth quarter valued at about $30,000. Riverview Trust Co purchased a new stake in shares of Equity Residential during the first quarter valued at about $32,000. CVA Family Office LLC purchased a new stake in Equity Residential during the fourth quarter valued at about $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Equity Residential during the first quarter valued at about $40,000. Institutional investors own 91.43% of the company’s shares.
About Equity Residential (get rating)
Equity Residential is committed to creating communities where people thrive. A member of the S&P 500, the company focuses on the acquisition, development and management of residential properties in and around dynamic cities that attract high-quality long-term tenants. Equity Residential owns or has investments in 305 properties comprising 78,568 apartment units located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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