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

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

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Robert W. Baird reaffirmed a “hold” rating and set a $65.00 price target on shares of Equity Residential in a research note on Tuesday, January 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $69.00 price target on shares of Equity Residential in a research note on Monday, November 27th. Mizuho raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Monday, November 6th. Finally, Stifel Nicolaus decreased their price target on shares of Equity Residential from $71.00 to $68.00 and set a “hold” rating on the stock in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.13.

Equity Residential (EQR) traded down $0.54 during trading on Tuesday, reaching $60.42. 1,460,100 shares of the company were exchanged, compared to its average volume of 1,682,022. The stock has a market capitalization of $22,203.43, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.93 and a beta of 0.36. 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.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ 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%. sell-side analysts anticipate that Equity Residential will post 3.12 EPS for the current year.

In other news, insider Alan W. George sold 84,326 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $69.47, for a total value of $5,858,127.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark J. Parrell sold 50,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $68.00, for a total transaction of $3,400,000.00. The disclosure for this sale can be found here. Insiders have sold 402,380 shares of company stock worth $27,663,622 in the last quarter. Company insiders own 3.79% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of EQR. D.A. Davidson & CO. grew its holdings in shares of Equity Residential by 4.1% in the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 73 shares during the last quarter. Amica Retiree Medical Trust bought a new position in shares of Equity Residential in the third quarter worth about $135,000. Zions Bancorporation grew its holdings in shares of Equity Residential by 3,348.4% in the third quarter. Zions Bancorporation now owns 2,138 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 2,076 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of Equity Residential in the third quarter worth about $171,000. Finally, Sun Life Financial INC grew its holdings in shares of Equity Residential by 22,450.0% in the second quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 2,694 shares during the last quarter. Hedge funds and other institutional investors own 94.04% 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.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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