Equity Residential Receives a Hold from BMO Capital

By Ryan Adsit

BMO Capital analyst John Kim reiterated a Hold rating on Equity Residential (NYSE: EQR) today and set a price target of $66. The company’s shares opened today at $65.47.

According to TipRanks.com, Kim is a 3-star analyst with an average return of 3.0% and a 52.1% success rate. Kim covers the Financial sector, focusing on stocks such as Apartment Investment & Management, Forest City Realty Trust, Inc., and Retail Opportunity Investments.

Currently, the analyst consensus on Equity Residential is Hold and the average price target is $66.50, representing a 1.6% upside.

In a report issued on May 15, Barclays also maintained a Hold rating on the stock with a $65 price target.

Based on Equity Residential’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $599 million and quarterly net profit of $87.84 million. In comparison, last year the company earned revenue of $590 million and had a GAAP net loss of $147 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2017, Joseph White, a Director at EQR sold 5,700 shares for a total of $361,722.

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 multifamily residential properties. The company was founded by Robert H. Lurie and Sam Zell in March 1993 and is headquartered in Chicago, IL.