Equity Residential (NYSE:EQR) : Zacks Investment Research ranks Equity Residential (NYSE:EQR) as 3, which is a Hold recommendation. 5 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 13 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 18 research analysts is 2.44, which indicates as a Buy.
Equity Residential (NYSE:EQR) : 16 Wall Street analysts covering Equity Residential (NYSE:EQR) believe that the average level the stock could reach for the short term is $74.59. The maximum price target given is $82 and the minimum target for short term is around $66, hence the standard deviation is calculated at $3.4.
Company shares have received an average consensus rating of Hold for the current week Also, Equity Analysts at the Brokerage Firm, Zelman, downgrades their rating on the shares of Equity Residential (NYSE:EQR). Zelman has a Sell rating on the shares. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on June 22, 2016.
Equity Residential (NYSE:EQR): stock turned positive on Tuesday. Though the stock opened at $66.49, the bulls momentum made the stock top out at $67.8 level for the day. The stock recorded a low of $66.24 and closed the trading day at $67.79, in the green by 2.76%. The total traded volume for the day was 2,614,001. The stock had closed at $65.97 in the previous days trading.
In an insider trading activity, The officer (Executive Vice President), of Equity Residential, Tennison Mark N had unloaded 52,293 shares at $74.88 per share in a transaction on March 29, 2016. The total value of transaction was $3,915,700. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Equity Residential is a real estate investment trust (REIT) focused on the acquisition, development and management of apartment properties in the United States growth markets. ERP Operating Limited Partnership (ERPOP) conducts the multifamily residential property business of Equity Residential. The Company is the general partner and owns an approximate 96.2% ownership interest in ERPOP. The remaining 3.8% interest is owned by limited partners. As of December 31, 2014, the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 391 properties located in 12 states and the District of Columbia consisting of 109,225 apartment units. All of the Companys property ownership, development and related business operations are conducted through ERPOP.