SunTrust Banks cut shares of Equity Residential (NYSE:EQR) from a buy rating to a hold rating in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have $71.00 target price on the real estate investment trust’s stock. SunTrust Banks also issued estimates for Equity Residential’s Q4 2018 earnings at $0.84 EPS, FY2018 earnings at $3.25 EPS, Q1 2019 earnings at $0.82 EPS, Q2 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.85 EPS, FY2019 earnings at $3.37 EPS, FY2020 earnings at $3.38 EPS, FY2021 earnings at $3.40 EPS and FY2022 earnings at $3.49 EPS.

Several other equities research analysts also recently commented on EQR. ValuEngine downgraded Equity Residential from a hold rating to a sell rating in a report on Monday, June 18th. Stifel Nicolaus boosted their price objective on Equity Residential from $60.00 to $68.00 and gave the company a hold rating in a report on Thursday, July 26th. Mizuho restated a buy rating and set a $76.00 price objective on shares of Equity Residential in a report on Monday, August 6th. Bank of America boosted their price objective on Equity Residential from $74.00 to $76.00 and gave the company a buy rating in a report on Friday, June 8th. Finally, Morgan Stanley decreased their price objective on Equity Residential from $66.50 to $63.00 and set an equal weight rating for the company in a report on Thursday, June 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $67.71.

NYSE EQR opened at $67.85 on Tuesday. The company has a market cap of $24.29 billion, a PE ratio of 21.67, a PEG ratio of 3.42 and a beta of 0.43. Equity Residential has a 52 week low of $54.97 and a 52 week high of $70.46. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.84.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The firm had revenue of $639.62 million during the quarter, compared to the consensus estimate of $637.34 million. Equity Residential had a return on equity of 5.63% and a net margin of 23.27%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. equities analysts anticipate that Equity Residential will post 3.24 earnings per share for the current fiscal year.

In related news, CEO David J. Neithercut sold 25,000 shares of Equity Residential stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $64.50, for a total transaction of $1,612,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David S. Santee sold 1,928 shares of Equity Residential stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $61.55, for a total value of $118,668.40. The disclosure for this sale can be found here. 3.75% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Equity Residential by 6.3% in the second quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock worth $2,429,425,000 after purchasing an additional 2,247,512 shares during the last quarter. FMR LLC boosted its position in Equity Residential by 5.1% in the second quarter. FMR LLC now owns 10,660,719 shares of the real estate investment trust’s stock worth $678,982,000 after purchasing an additional 520,610 shares during the last quarter. Northern Trust Corp boosted its position in Equity Residential by 3.2% in the first quarter. Northern Trust Corp now owns 6,766,189 shares of the real estate investment trust’s stock worth $416,933,000 after purchasing an additional 209,065 shares during the last quarter. Boston Partners boosted its position in Equity Residential by 80.2% in the second quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock worth $409,622,000 after purchasing an additional 2,862,717 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Equity Residential by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,543,211 shares of the real estate investment trust’s stock worth $353,044,000 after purchasing an additional 71,485 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Company Profile

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 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

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Analyst Recommendations for Equity Residential (NYSE:EQR)

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