Equity Residential (NYSE:EQR) received a $71.00 price objective from stock analysts at Scotiabank in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Scotiabank’s target price suggests a potential upside of 4.20% from the stock’s previous close.

EQR has been the topic of a number of other research reports. Wells Fargo & Co set a $70.00 price objective on Equity Residential and gave the company a “hold” rating in a research report on Thursday, November 1st. Argus raised their price objective on Equity Residential from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. Deutsche Bank raised their price objective on Equity Residential from $66.00 to $67.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. Robert W. Baird reaffirmed a “hold” rating and set a $66.00 price objective on shares of Equity Residential in a research report on Thursday, August 16th. Finally, SunTrust Banks downgraded Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price objective on the stock. in a research report on Tuesday, August 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Equity Residential presently has an average rating of “Hold” and an average target price of $68.82.

Shares of EQR stock opened at $68.14 on Monday. Equity Residential has a 1-year low of $54.97 and a 1-year high of $70.35. The stock has a market cap of $24.86 billion, a P/E ratio of 21.77, a P/E/G ratio of 3.45 and a beta of 0.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.13 and a current ratio of 0.13.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.23). Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The company had revenue of $652.87 million for the quarter, compared to the consensus estimate of $645.77 million. During the same period in the previous year, the business earned $0.37 EPS. Equity Residential’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Equity Residential will post 3.26 earnings per share for the current fiscal year.

In other Equity Residential news, insider Christa L. Sorenson sold 2,408 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $66.00, for a total value of $158,928.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ian Kaufman sold 5,075 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $67.75, for a total value of $343,831.25. The disclosure for this sale can be found here. In the last three months, insiders sold 128,238 shares of company stock valued at $8,648,795. Corporate insiders own 3.75% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Landaas & Co. WI ADV purchased a new position in shares of Equity Residential in the second quarter worth about $101,000. Stelac Advisory Services LLC purchased a new position in shares of Equity Residential in the third quarter worth about $120,000. Bbva Compass Bancshares Inc. purchased a new position in shares of Equity Residential in the third quarter worth about $137,000. Cornerstone Wealth Management LLC purchased a new position in shares of Equity Residential in the second quarter worth about $187,000. Finally, Girard Partners LTD. purchased a new position in shares of Equity Residential in the second quarter worth about $203,000. 87.08% of the stock is owned by institutional investors and hedge funds.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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Analyst Recommendations for Equity Residential (NYSE:EQR)

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