Equity Residential (EQR) : 17 analysts are covering Equity Residential (EQR) and their average rating on the stock is 2.41, which is read as a Buy. 5 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. A total of 12 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Equity Residential (EQR) stock is expected to deviate a maximum of $3.4 from the average target price of $74.59 for the short term period. 16 Street Experts have initiated coverage on the stock with the most promising target being $82 and the most muted being $66.
Company shares have received an average consensus rating of Hold for the current week
Equity Residential (NYSE:EQR): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $70.43 and $70.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $71.13. The buying momentum continued till the end and the stock did not give up its gains. It closed at $71.02, notching a gain of 0.35% for the day. The total traded volume was 1,967,071 . The stock had closed at $70.77 on the previous day.
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.