Equity Residential (NYSE:EQR) Given New $76.00 Price Target at Evercore ISI

Equity Residential (NYSE:EQR) had its target price increased by analysts at Evercore ISI from $74.00 to $76.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would indicate a potential upside of 6.38% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Scotiabank cut their target price on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday. Royal Bank of Canada lowered their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Barclays reduced their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.36.

Equity Residential Stock Up 0.7 %

EQR stock opened at $71.44 on Monday. Equity Residential has a 52 week low of $57.33 and a 52 week high of $78.83. The business has a 50-day simple moving average of $70.83 and a 200 day simple moving average of $72.74. The company has a quick ratio of 0.13, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The company has a market cap of $27.11 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 4.49 and a beta of 0.93.

Insider Transactions at Equity Residential

In other news, CAO Ian Kaufman sold 642 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the transaction, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $384,800.40. Following the completion of the sale, the executive vice president now owns 35,507 shares in the company, valued at $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,763 shares of company stock worth $1,424,217. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Equity Residential

A number of hedge funds have recently bought and sold shares of EQR. Maryland Capital Advisors Inc. acquired a new stake in Equity Residential during the 3rd quarter worth about $25,000. SRS Capital Advisors Inc. boosted its position in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Equity Residential during the third quarter worth approximately $29,000. Assetmark Inc. increased its holdings in Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Equity Residential in the third quarter valued at approximately $33,000. Institutional investors own 92.68% of the company’s stock.

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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.