Do futuristic bulls still own Equity Residential Properties Trust [EQR] stock?

The stock of Equity Residential Properties Trust (NYSE:EQR) last traded at $54.19, up 1.88% from the previous session.

Data from the available sources indicates that Equity Residential Properties Trust (NYSE:EQR) is covered by 24 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $77.00 and a low of $60.00, we find $68.50. Given the previous closing price of $53.19, this indicates a potential upside of 28.78 percent. EQR stock price is now -10.15% away from the 50-day moving average and -13.18% away from the 200-day moving average. The market capitalization of the company currently stands at $20.54B.

In total, 14 analysts have assigned it a hold rating, and 8 have given it a buy rating. Brokers who have rated the stock have averaged $67.28 as their price target over the next twelve months.

With the price target of $62, Wedbush recently initiated with Neutral rating for Equity Residential Properties Trust (NYSE: EQR).

In other news, Manelis Michael L, Executive Vice President & COO sold 2,500 shares of the company’s stock on Aug 11. The stock was sold for $165,100 at an average price of $66.04. Upon completion of the transaction, the Executive Vice President & COO now directly owns 22,844 shares in the company, valued at $1.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 04, Director SHAPIRO MARK S sold 42,435 shares of the business’s stock. A total of $2,627,080 was realized by selling the stock at an average price of $61.91. This leaves the insider owning 12,497 shares of the company worth $0.68 million. Insiders disposed of 128,113 shares of company stock worth roughly $6.94 million over the past 1 year. A total of 1.87% of the company’s stock is owned by insiders.

With an opening price of $54.11 on Thursday morning, Equity Residential Properties Trust (NYSE: EQR) set off the trading day. During the past 12 months, Equity Residential Properties Trust has had a low of $52.57 and a high of $69.45. According to the stock market information, the enterprise value for the company is $28.37B, which is based on a 30.22 price-to-earnings ratio, a 1.95 price-to-earnings-growth ratio, and a beta of 0.87. The fifty day moving average price for EQR is $60.11 and a two-hundred day moving average price translates $62.38 for the stock.

The latest earnings results from Equity Residential Properties Trust (NYSE: EQR) was released for Sep, 2023. According to the REIT – Residential Company, earnings per share came in at $0.37, inline with analysts’ expectations of $0.37. This compares to $0.59 EPS in the same period last year. The net profit margin was 23.96% and return on equity was 6.18% for EQR. The company reported revenue of $717.31 million for the quarter, compared to $687.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.41 percent. For the current quarter, analysts expect EQR to generate $727.52M in revenue.

Equity Residential Properties Trust(EQR) Company Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft. Worth and Austin.

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