ValuEngine Upgrades Equity Residential (EQR) to “Buy”

Equity Residential (NYSE:EQR) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other equities analysts also recently commented on EQR. Stifel Nicolaus increased their price objective on shares of Equity Residential from $60.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. Mizuho reissued a “buy” rating and issued a $76.00 price objective on shares of Equity Residential in a research note on Monday, August 6th. SunTrust Banks downgraded shares of Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research note on Tuesday, August 14th. Robert W. Baird reissued a “hold” rating and issued a $66.00 price objective on shares of Equity Residential in a research note on Thursday, August 16th. Finally, Deutsche Bank increased their price objective on shares of Equity Residential from $66.00 to $67.00 and gave the company a “hold” rating in a research note on Wednesday, September 5th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.06.

Shares of Equity Residential stock opened at $69.50 on Wednesday. Equity Residential has a 1-year low of $54.97 and a 1-year high of $70.27. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.85. The company has a market cap of $25.63 billion, a PE ratio of 22.20, a PEG ratio of 3.55 and a beta of 0.40.

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

In other Equity Residential news, Vice Chairman Gerald A. Spector sold 13,024 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $67.50, for a total value of $879,120.00. Following the completion of the transaction, the insider now directly owns 294,287 shares in the company, valued at approximately $19,864,372.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Ian Kaufman sold 5,075 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $67.75, for a total transaction of $343,831.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,532 shares of company stock valued at $13,543,569. Corporate insiders own 3.75% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Landaas & Co. WI ADV acquired a new position in Equity Residential in the 2nd quarter valued at approximately $101,000. Stelac Advisory Services LLC acquired a new position in Equity Residential in the 3rd quarter valued at approximately $120,000. Bbva Compass Bancshares Inc. acquired a new position in Equity Residential in the 3rd quarter valued at approximately $137,000. Lenox Wealth Management Inc. acquired a new position in Equity Residential in the 3rd quarter valued at approximately $426,000. Finally, Girard Partners LTD. acquired a new position in Equity Residential in the 2nd quarter valued at approximately $203,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 306 properties consisting of 79,260 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Analyst Recommendations for Equity Residential (NYSE:EQR)

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