BTIG analyst James W Sullivan reiterated a Buy rating on Equity Residential (EQR) on April 27 and set a price target of $78.00. The company’s shares closed last Wednesday at $73.63, close to its 52-week high of $76.13.
According to TipRanks.com, Sullivan is a 4-star analyst with an average return of 11.2% and a 65.2% success rate. Sullivan covers the Financial sector, focusing on stocks such as Bluerock Residential Growth, Host Hotels & Resorts, and Mid-America Apartment.
Currently, the analyst consensus on Equity Residential is a Hold with an average price target of $72.45, a -2.4% downside from current levels. In a report issued on April 15, UBS also maintained a Buy rating on the stock with a $80.00 price target.
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Based on Equity Residential’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $613 million and net profit of $253 million. In comparison, last year the company earned revenue of $682 million and had a net profit of $309 million.
Based on the recent corporate insider activity of 38 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. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H. Lurie and Sam Zell in March 1993 and is headquartered in Chicago, IL.
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