Equity Residential (NYSE:EQR) Given New $85.00 Price Target at Truist Financial

Equity Residential (NYSE:EQRGet Rating) had its price objective decreased by research analysts at Truist Financial to $85.00 in a note issued to investors on Thursday, Stock Target Advisor reports. Truist Financial’s price target points to a potential upside of 11.01% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Barclays lowered their price target on shares of Equity Residential from $97.00 to $83.00 in a report on Tuesday, May 10th. StockNews.com assumed coverage on Equity Residential in a report on Thursday, March 31st. They set a “hold” rating for the company. Mizuho upgraded Equity Residential from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $92.00 to $84.00 in a research note on Tuesday, May 17th. Scotiabank decreased their target price on Equity Residential from $92.00 to $90.00 in a report on Thursday, May 19th. Finally, Morgan Stanley cut their price target on shares of Equity Residential from $86.50 to $78.50 and set an “equal weight” rating on the stock in a report on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and a consensus price target of $88.15.

Shares of Equity Residential stock traded up $0.33 during trading on Thursday, reaching $76.57. The company’s stock had a trading volume of 40,692 shares, compared to its average volume of 1,748,763. The business has a 50 day moving average price of $84.79 and a 200-day moving average price of $86.65. Equity Residential has a 12-month low of $71.86 and a 12-month high of $94.32. The company has a market capitalization of $28.79 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 4.00 and a beta of 0.81. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.74.

Equity Residential (NYSE:EQRGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.61). Equity Residential had a net margin of 53.42% and a return on equity of 12.35%. During the same quarter last year, the firm posted $0.68 earnings per share. Research analysts predict that Equity Residential will post 3.45 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its holdings in shares of Equity Residential by 3.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,424 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 117 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in Equity Residential by 4.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 2,810 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 117 shares during the period. Keybank National Association OH grew its holdings in shares of Equity Residential by 4.1% during the fourth quarter. Keybank National Association OH now owns 3,152 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 124 shares during the last quarter. First Command Bank raised its position in shares of Equity Residential by 15.6% during the 1st quarter. First Command Bank now owns 1,040 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 140 shares during the period. Finally, CVA Family Office LLC lifted its holdings in shares of Equity Residential by 34.9% in the 1st quarter. CVA Family Office LLC now owns 560 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 145 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Equity Residential Company Profile (Get Rating)

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.

Featured Articles

Stock Target Advisor logo

Analyst Recommendations for Equity Residential (NYSE:EQR)

Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.