Equity Residential (NYSE:EQR) Earns Sell Rating from Analysts at Goldman Sachs Group

Stock analysts at Goldman Sachs Group began coverage on shares of Equity Residential (NYSE:EQR) in a report issued on Friday, Briefing.com Automated Import reports. The brokerage set a “sell” rating and a $86.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s target price indicates a potential upside of 2.30% from the stock’s previous close.

Several other brokerages have also issued reports on EQR. Robert W. Baird lowered Equity Residential from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $78.00 to $81.00 in a report on Monday, October 14th. ValuEngine lowered Equity Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks set a $82.00 price objective on Equity Residential and gave the stock a “hold” rating in a report on Friday, October 25th. Argus raised their price objective on Equity Residential from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $82.16.

Shares of EQR stock opened at $84.07 on Friday. The stock’s 50-day moving average is $87.08 and its two-hundred day moving average is $81.02. The firm has a market cap of $31.49 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 4.05 and a beta of 0.44. Equity Residential has a 1 year low of $63.17 and a 1 year high of $89.55. The company has a debt-to-equity ratio of 0.87, 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 22nd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.17). The firm had revenue of $685.15 million for the quarter, compared to analysts’ expectations of $679.66 million. Equity Residential had a return on equity of 7.73% and a net margin of 29.88%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 EPS. As a group, research analysts predict that Equity Residential will post 3.47 EPS for the current year.

In other news, EVP Scott Fenster sold 2,118 shares of Equity Residential stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $84.12, for a total transaction of $178,166.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David J. Neithercut sold 3,000 shares of Equity Residential stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $89.09, for a total transaction of $267,270.00. Following the sale, the director now owns 3,392 shares of the company’s stock, valued at $302,193.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,945 shares of company stock worth $8,882,681. Corporate insiders own 3.75% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Eii Capital Management Inc. raised its position in shares of Equity Residential by 3.0% during the 2nd quarter. Eii Capital Management Inc. now owns 77,118 shares of the real estate investment trust’s stock worth $5,855,000 after purchasing an additional 2,259 shares during the last quarter. DNB Asset Management AS raised its position in shares of Equity Residential by 2.4% during the 2nd quarter. DNB Asset Management AS now owns 39,656 shares of the real estate investment trust’s stock worth $3,011,000 after purchasing an additional 929 shares during the last quarter. Carroll Financial Associates Inc. acquired a new position in shares of Equity Residential during the 2nd quarter worth approximately $205,000. Timbercreek Investment Management Inc. raised its position in shares of Equity Residential by 3.3% during the 2nd quarter. Timbercreek Investment Management Inc. now owns 268,420 shares of the real estate investment trust’s stock worth $20,784,000 after purchasing an additional 8,600 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Equity Residential by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 172,767 shares of the real estate investment trust’s stock worth $13,116,000 after purchasing an additional 511 shares during the last quarter. Institutional investors own 88.46% of the company’s stock.

Equity Residential Company Profile

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 307 properties consisting of 79,482 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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