Equity Residential (EQR) Gets a Buy from RBC Capital
RBC Capital analyst Brad Heffern maintained a Buy rating on Equity Residential on May 21 and set a price target of $69.00. The company’s shares closed yesterday at $65.76.
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According to TipRanks, Heffern is a 5-star analyst with an average return of 10.8% and a 54.40% success rate. Heffern covers the Real Estate sector, focusing on stocks such as AvalonBay, Equity Residential, and Cubesmart.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Equity Residential with a $71.16 average price target, an 8.21% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $78.00 price target.
Based on Equity Residential’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $779.85 million and a net profit of $90.08 million. In comparison, last year the company earned a revenue of $760.81 million and had a net profit of $256.59 million
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- Equity Residential Announces Merger with AvalonBay Communities
- AvalonBay, Equity Residential announce merger of equals
- AvalonBay, Equity Residential to combine in an all-stock merger of equals
- AvalonBay, Equity Residential near deal to combine, Bloomberg reports
- Equity Residential price target raised to $73 from $71 at UBS
