Equity Residential (NYSE:EQR) had its price target reduced by equities researchers at Royal Bank Of Canada from $70.00 to $67.00 in a research report issued on Thursday. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 11.57% from the company’s previous close.

Several other equities analysts have also recently issued reports on EQR. Citigroup Inc. cut Equity Residential from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 3rd. SunTrust Banks Inc. reduced their price target on Equity Residential from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Mizuho raised Equity Residential from an “underperform” rating to a “neutral” rating and set a $62.00 price target on the stock in a research note on Monday, October 31st. Jefferies Group reaffirmed a “hold” rating on shares of Equity Residential in a research note on Wednesday, August 10th. Finally, Raymond James Financial Inc. cut Equity Residential from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $70.03.

Analyst Recommendations for Equity Residential (NYSE:EQR)

Equity Residential (NYSE:EQR) opened at 60.05 on Thursday. The firm’s 50-day moving average price is $61.72 and its 200 day moving average price is $65.81. The company has a market capitalization of $21.96 billion, a PE ratio of 5.23 and a beta of 0.37. Equity Residential has a 52 week low of $59.29 and a 52 week high of $82.39.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Equity Residential had a net margin of 167.17% and a return on equity of 39.22%. The business had revenue of $606.07 million for the quarter, compared to analysts’ expectations of $602.10 million. During the same period last year, the firm posted $0.89 earnings per share. Equity Residential’s quarterly revenue was down 13.0% on a year-over-year basis. Equities research analysts expect that Equity Residential will post $3.08 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in EQR. Keeley Asset Management Corp boosted its stake in Equity Residential by 0.5% in the second quarter. Keeley Asset Management Corp now owns 5,765 shares of the real estate investment trust’s stock valued at $397,000 after buying an additional 26 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in 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 buying an additional 30 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in 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 buying an additional 65 shares in the last quarter. Lebenthal Holdings LLC boosted its stake in Equity Residential by 3.3% in the second quarter. Lebenthal Holdings LLC now owns 3,312 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 107 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC boosted its stake in Equity Residential by 1.5% in the third quarter. Balasa Dinverno & Foltz LLC now owns 8,213 shares of the real estate investment trust’s stock valued at $528,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 95.34% of the company’s stock.

Equity Residential Company Profile

Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington DC, Non-core – South Florida, Non-core – Denver, and Non-core – other.

5 Day Chart for NYSE:EQR

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