RBC Capital Sticks to Their Buy Rating for Equity Residential (EQR)

In a report released yesterday, Brad Heffern from RBC Capital maintained a Buy rating on Equity Residential (EQR – Research Report), with a price target of $68.00. The company’s shares closed yesterday at $62.96.

According to TipRanks, Heffern is ranked #517 out of 8759 analysts.

In addition to RBC Capital, Equity Residential also received a Buy from Truist Financial’s Michael Lewis in a report issued on April 9. However, on March 26, Piper Sandler assigned a Hold rating to Equity Residential (NYSE: EQR).

Based on Equity Residential’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $727.59 million and a net profit of $311.69 million. In comparison, last year the company earned a revenue of $699.7 million and had a net profit of $159.02 million

Based on the recent corporate insider activity of 39 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 (EQR) Company Description:

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.