Equity Residential (NYSE:EQR) had its price target decreased by analysts at Morgan Stanley from $66.50 to $63.00 in a report issued on Thursday. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price points to a potential downside of 0.76% from the company’s current price.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $66.00 price target (down from $69.00) on shares of Equity Residential in a report on Wednesday, February 21st. BMO Capital Markets set a $61.00 price target on shares of Equity Residential and gave the company a “hold” rating in a report on Friday, March 2nd. Robert W. Baird set a $62.00 price target on shares of Equity Residential and gave the company a “hold” rating in a report on Friday, March 2nd. Sandler O’Neill reissued a “hold” rating and issued a $65.00 price target on shares of Equity Residential in a report on Tuesday, March 20th. Finally, UBS Group raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $69.00 price target for the company in a report on Monday, March 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.38.

Shares of Equity Residential opened at $63.48 on Thursday, Marketbeat.com reports. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.83. Equity Residential has a fifty-two week low of $54.97 and a fifty-two week high of $70.46. The firm has a market capitalization of $23.47 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 3.28 and a beta of 0.35.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.21). Equity Residential had a net margin of 26.83% and a return on equity of 6.41%. The company had revenue of $633.02 million during the quarter, compared to the consensus estimate of $626.81 million. During the same period last year, the company earned $0.76 earnings per share. Equity Residential’s revenue for the quarter was up 4.8% on a year-over-year basis. equities research analysts expect that Equity Residential will post 3.23 earnings per share for the current fiscal year.

In other news, CEO David J. Neithercut sold 25,000 shares of the stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $64.50, for a total value of $1,612,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David S. Santee sold 1,928 shares of the stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $61.55, for a total transaction of $118,668.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,110 shares of company stock valued at $2,048,048. Corporate insiders own 3.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in EQR. Oppenheimer & Co. Inc. increased its position in shares of Equity Residential by 6.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 27,036 shares of the real estate investment trust’s stock worth $1,724,000 after purchasing an additional 1,666 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Equity Residential by 6.2% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 31,843 shares of the real estate investment trust’s stock worth $2,031,000 after purchasing an additional 1,869 shares in the last quarter. Sentry Investment Management LLC increased its position in shares of Equity Residential by 40.4% during the 4th quarter. Sentry Investment Management LLC now owns 8,712 shares of the real estate investment trust’s stock worth $556,000 after purchasing an additional 2,507 shares in the last quarter. First Trust Advisors LP increased its position in shares of Equity Residential by 6.2% during the 4th quarter. First Trust Advisors LP now owns 481,988 shares of the real estate investment trust’s stock worth $30,736,000 after purchasing an additional 28,141 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Equity Residential by 12.4% during the 4th quarter. Wells Fargo & Company MN now owns 888,615 shares of the real estate investment trust’s stock worth $56,666,000 after purchasing an additional 97,897 shares in the last quarter. Institutional investors and hedge funds own 92.70% 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 in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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