In a report released yesterday, Drew Babin from Robert W. Baird reiterated a Hold rating on Equity Residential (NYSE: EQR), with a price target of $66. The company’s shares opened today at $67.16.
According to TipRanks.com, Babin is a 4-star analyst with an average return of 9.6% and a 81.3% success rate. Babin covers the Financial sector, focusing on stocks such as Bluerock Residential Growth, Physicians Realty Trust, and Education Realty Trust.
The word on The Street in general, suggests a Hold analyst consensus rating for Equity Residential with a $67.33 average price target, representing a 0.3% upside. In a report issued on August 14, SunTrust Robinson also downgraded the stock to Hold with a $66 price target.
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Based on Equity Residential’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $113 million. In comparison, last year the company had a net profit of $108 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, David Neithercut, the President & CEO of EQR sold 25,000 shares for a total of $1,612,500.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Equity Residential operates as a real estate investment trust, which engages in the acquisition, development, and management of rental apartment properties. The company was founded by Robert H. Lurie and Sam Zell in March 1993 and is headquartered in Chicago, IL.
