BidaskClub upgraded shares of Equity Residential (NYSE:EQR) from a hold rating to a buy rating in a research report released on Thursday.

Other research analysts have also issued reports about the stock. TheStreet upgraded shares of Equity Residential from a c+ rating to a b rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Equity Residential from a hold rating to a buy rating and set a $74.00 price target for the company in a research report on Tuesday, July 18th. Bank of America Corporation upgraded shares of Equity Residential from a neutral rating to a buy rating and set a $75.00 price target for the company in a research report on Friday, June 16th. Argus set a $75.00 price target on shares of Equity Residential and gave the company a buy rating in a research report on Thursday, April 27th. Finally, Barclays PLC restated an equal weight rating and set a $64.00 price target (up from $62.00) on shares of Equity Residential in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Equity Residential currently has an average rating of Hold and an average price target of $68.00.

Shares of Equity Residential (NYSE EQR) opened at 67.17 on Thursday. The company’s 50 day moving average price is $66.74 and its 200 day moving average price is $64.74. Equity Residential has a 12-month low of $58.28 and a 12-month high of $68.83. The firm has a market cap of $24.67 billion, a P/E ratio of 30.05 and a beta of 0.34.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Equity Residential had a net margin of 33.99% and a return on equity of 7.92%. The company had revenue of $612.48 million during the quarter, compared to analyst estimates of $609.37 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Equity Residential will post $1.44 EPS for the current year.

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In related news, insider Michael L. Manelis sold 433 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $67.03, for a total value of $29,023.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan W. George sold 28,157 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $65.93, for a total transaction of $1,856,391.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,124 shares of company stock valued at $3,945,054. 3.79% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. DnB Asset Management AS increased its position in Equity Residential by 18.1% in the first quarter. DnB Asset Management AS now owns 38,537 shares of the real estate investment trust’s stock worth $2,398,000 after buying an additional 5,900 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in Equity Residential by 5.7% in the first quarter. Duff & Phelps Investment Management Co. now owns 863,661 shares of the real estate investment trust’s stock worth $53,737,000 after buying an additional 46,325 shares during the last quarter. LGT Capital Partners LTD. increased its position in Equity Residential by 8.9% in the first quarter. LGT Capital Partners LTD. now owns 103,070 shares of the real estate investment trust’s stock worth $6,413,000 after buying an additional 8,400 shares during the last quarter. State of Alaska Department of Revenue increased its position in Equity Residential by 52.9% in the first quarter. State of Alaska Department of Revenue now owns 201,794 shares of the real estate investment trust’s stock worth $12,554,000 after buying an additional 69,824 shares during the last quarter. Finally, Motco increased its position in Equity Residential by 5.9% in the first quarter. Motco now owns 5,993 shares of the real estate investment trust’s stock worth $373,000 after buying an additional 336 shares during the last quarter. 91.81% of the stock is owned by institutional investors.

About Equity Residential

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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