Citigroup Maintains Equity Residential to Neutral with Price Target $69.00

Brokerage firm Citigroup Maintains its rating on Equity Residential(NYSE:EQR). In a research note issued to the investors, the brokerage major Lowers the price-target to $69.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Sep 30, 2016.

In a different note, BTIG Research said it Initiates Coverage on Equity Residential, according to a research note issued on Aug 25, 2016. The shares have been rated ‘Neutral’ by the firm. On Aug 10, 2016, Deutsche Bank said it Maintains its rating on Equity Residential. In the research note, the firm Lowers the price-target to $74.00 per share. The shares have been rated ‘Hold’ by the firm. On Aug 4, 2016, SunTrust Robinson Humphrey said it Maintains its rating on Equity Residential. In the research note, the firm Lowers the price-target to $75.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 3, 2016, Morgan Stanley said it Downgrades its rating on Equity Residential. In the research note, the firm Lowers the price-target to $76.00 per share. The shares have been rated ‘Underweight’ by the firm. On Aug 3, 2016, Raymond James said it Downgrades its rating on Equity Residential. The shares have been rated ‘Underperform’ by the firm. On Jul 29, 2016, Citigroup said it Maintains its rating on Equity Residential. In the research note, the firm Lowers the price-target to $74.00 per share. The shares have been rated ‘Neutral’ by the firm.

Equity Residential (EQR) shares turned negative on Tuesdays trading session with the shares closing down -0.58 points or -0.92% at a volume of 30,49,185. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $63.4. The peak price level was also seen at $63.4 while the days lowest was $62.17. Finally the shares closed at $62.51. The 52-week high of the shares is $82.39 while the 52-week low is $62.17. According to the latest information available, the market cap of the company is $22,851 M.

Equity Residential(EQR) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $595.15M. Analysts had an estimated revenue of $609.69M. Earnings per share were $0.76. Analysts had estimated an EPS of $0.78.

Several Insider Transactions has been reported to the SEC. On Mar 30, 2016, Bruce C Strohm (EVP & General Counsel) sold 9,552 shares at $74.00 per share price.Also, On Mar 30, 2016, Mark J. Parrell (Executive Vice President & CFO) sold 36,874 shares at $74.40 per share price.On Mar 22, 2016, Charles L Atwood (director) sold 4,000 shares at $74.11 per share price, according to the Form-4 filing with the securities and exchange commission.

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 109225 apartment units. All of the Company’s property ownership development and related business operations are conducted through ERPOP.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Equity Residential - Is it time to Sell?

Top Brokerage Firms are advising their investors on Equity Residential. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.