Argus upgraded shares of Equity Residential (NYSE:EQR – Get Rating) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat reports. The brokerage currently has $72.00 target price on the real estate investment trust’s stock.
Several other research analysts also recently commented on EQR. UBS Group raised their price objective on shares of Equity Residential from $83.00 to $91.00 and gave the stock a buy rating in a report on Friday, July 29th. Evercore ISI cut their price objective on shares of Equity Residential to $75.00 in a report on Thursday, October 13th. The Goldman Sachs Group cut their price objective on shares of Equity Residential from $86.00 to $74.00 and set a neutral rating for the company in a report on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Equity Residential from $85.00 to $73.00 and set a hold rating for the company in a report on Tuesday, October 4th. Finally, BMO Capital Markets downgraded shares of Equity Residential from an outperform rating to a market perform rating and cut their price objective for the stock from $88.00 to $74.00 in a report on Thursday, October 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $78.00.
Equity Residential Stock Up 1.9 %
Equity Residential stock opened at $62.93 on Thursday. Equity Residential has a twelve month low of $59.32 and a twelve month high of $94.32. The firm has a 50 day moving average price of $65.29 and a 200-day moving average price of $71.24. The company has a market capitalization of $23.78 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.62 and a beta of 0.77. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.67.
Equity Residential Dividend Announcement
Institutional Trading of Equity Residential
Hedge funds have recently made changes to their positions in the stock. Avantax Advisory Services Inc. lifted its stake in Equity Residential by 19.0% in the first quarter. Avantax Advisory Services Inc. now owns 3,199 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 510 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Equity Residential by 1.2% in the first quarter. Mutual of America Capital Management LLC now owns 45,607 shares of the real estate investment trust’s stock worth $4,101,000 after purchasing an additional 546 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Equity Residential by 11.2% in the first quarter. DAVENPORT & Co LLC now owns 2,872 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 289 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Equity Residential in the first quarter worth $40,000. Finally, Metis Global Partners LLC lifted its stake in Equity Residential by 84.4% in the first quarter. Metis Global Partners LLC now owns 5,488 shares of the real estate investment trust’s stock worth $493,000 after purchasing an additional 2,512 shares during the last quarter. 83.92% of the stock is owned by institutional investors.
Equity Residential Company Profile
Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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