BMO Capital Sticks to Their Hold Rating for Equity Residential (EQR)
In a report released yesterday, John Kim from BMO Capital maintained a Hold rating on Equity Residential, with a price target of $68.00.
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Kim covers the Real Estate sector, focusing on stocks such as Cousins Properties, Independence Realty, and Douglas Emmett. According to TipRanks, Kim has an average return of -2.0% and a 44.04% success rate on recommended stocks.
In addition to BMO Capital, Equity Residential also received a Hold from Morgan Stanley’s Adam Kramer in a report issued on March 16. However, on March 26, Morgan Stanley upgraded Equity Residential (NYSE: EQR) to a Buy.
Based on Equity Residential’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $789.03 million and a net profit of $382.09 million. In comparison, last year the company earned a revenue of $766.78 million and had a net profit of $419.12 million
Based on the recent corporate insider activity of 29 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. Last month, Ian Kaufman, the CAO of EQR sold 909.00 shares for a total of $57,776.04.
Read More on EQR:
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- The Week That Was, The Week Ahead: Macro and Markets, Mar. 29
- Equity Residential upgraded to Overweight from Equal Weight at Morgan Stanley
- Equity Residential raises quarterly dividend to 70.3c per share from 69.3c
- Equity Residential price target lowered to $72 from $73.50 at Morgan Stanley
- Equity Residential price target raised to $70 from $69 at Evercore ISI
