Equity Residential (NYSE:EQR) Given New $66.00 Price Target at Barclays PLC

Equity Residential (NYSE:EQR) had its price objective upped by Barclays PLC from $65.00 to $66.00 in a research note published on Tuesday, August 1st. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on EQR. Zacks Investment Research cut Equity Residential from a hold rating to a sell rating in a report on Wednesday, April 5th. Evercore ISI boosted their price target on Equity Residential from $62.00 to $63.00 and gave the stock an underperform rating in a report on Wednesday, April 19th. Cantor Fitzgerald reaffirmed a hold rating and set a $63.00 price objective on shares of Equity Residential in a report on Wednesday, April 26th. Argus set a $75.00 price objective on Equity Residential and gave the stock a buy rating in a report on Thursday, April 27th. Finally, TheStreet lowered Equity Residential from a b rating to a c+ rating in a report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $68.00.

Shares of Equity Residential (NYSE EQR) opened at 67.17 on Tuesday. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83. The company has a 50-day moving average of $66.74 and a 200-day moving average of $64.74. The company has a market cap of $24.67 billion, a PE ratio of 30.05 and a beta of 0.34.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $612.48 million during the quarter, compared to the consensus estimate of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. Equities analysts forecast that Equity Residential will post $1.44 EPS for the current year.

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In related news, insider Alan W. George sold 28,157 shares of Equity Residential stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $65.93, for a total transaction of $1,856,391.01. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael L. Manelis sold 433 shares of Equity Residential stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total value of $29,023.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,124 shares of company stock worth $3,945,054. 3.79% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Toronto Dominion Bank increased its stake in Equity Residential by 25.6% in the second quarter. Toronto Dominion Bank now owns 124,375 shares of the real estate investment trust’s stock worth $8,186,000 after buying an additional 25,330 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Equity Residential by 1.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 3,558 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 64 shares in the last quarter. Gofen & Glossberg LLC IL increased its stake in Equity Residential by 2.6% in the second quarter. Gofen & Glossberg LLC IL now owns 39,864 shares of the real estate investment trust’s stock worth $2,624,000 after buying an additional 1,005 shares in the last quarter. Koch Industries Inc. increased its stake in Equity Residential by 10,279.5% in the second quarter. Koch Industries Inc. now owns 383,938 shares of the real estate investment trust’s stock valued at $378,000 after buying an additional 380,239 shares in the last quarter. Finally, 1st Global Advisors Inc. increased its stake in Equity Residential by 1.6% in the second quarter. 1st Global Advisors Inc. now owns 15,020 shares of the real estate investment trust’s stock valued at $989,000 after buying an additional 241 shares in the last quarter. Institutional investors own 91.81% of the company’s stock.

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.

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