In a report issued on October 11, Ross L Smotrich from Barclays maintained a Hold rating on Equity Residential (EQR), with a price target of $87.00. The company’s shares closed last Monday at $87.63, close to its 52-week high of $88.49.
According to TipRanks.com, Smotrich is a 5-star analyst with an average return of 6.4% and a 62.0% success rate. Smotrich covers the Financial sector, focusing on stocks such as Essential Properties Realty Trust Inc, Apartment Investment & Management, and Hudson Pacific Properties.
The word on The Street in general, suggests a Hold analyst consensus rating for Equity Residential with a $82.67 average 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 $309 million. In comparison, last year the company had a net profit of $100 million.
Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQR in relation to earlier this year.
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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.
