Equity Residential (EQR) : The consensus on Equity Residential (EQR) based on 17 analyst recommendation on the company stock is 2.41, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 5 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 12 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Equity Residential (EQR) : The highest level Equity Residential (EQR) is projected to reach is $82 for the short term and the lowest estimate is at $66. The consolidated price target from 16 rating analysts who initiate coverage on the stock is $74.59 and the possibility the share price can swing is $3.4.
Equity Residential (NYSE:EQR): The stock opened at $69.61 on Wednesday but the bulls could not build on the opening and the stock topped out at $69.82 for the day. The stock traded down to $68.49 during the day, due to lack of any buying support eventually closed down at $69.22 with a loss of -0.80% for the day. The stock had closed at $69.78 on the previous day. The total traded volume was 2,586,712 shares.
Also, In the latest statement by the brokerage house, Zelman downgrades its outlook on Equity Residential (NYSE:EQR). The current rating of the shares is Sell, according to the research report released by the firm. Previously, the company had a rating of Hold. The rating by the firm was issued on June 22, 2016. The company shares have dropped -5.80% from its 1 Year high price. On Dec 31, 2015, the shares registered one year high at $82.39 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $66.63 and the 200 Day Moving Average price is recorded at $72.25.
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.