Bank of America Corporation Issues an Upgrade on Equity Residential (NYSE:EQR) Shares. What’s Next?

June 19, 2017 - By Linda Rogers

  Bank of America Corporation Issues an Upgrade on Equity Residential (NYSE:EQR) Shares. What’s Next?

Investors sentiment increased to 0.87 in 2016 Q4. Its up 0.08, from 0.79 in 2016Q3. It is positive, as 52 investors sold Equity Residential shares while 169 reduced holdings. 56 funds opened positions while 136 raised stakes. 339.21 million shares or 0.51% less from 340.93 million shares in 2016Q3 were reported.

Cleararc Inc reported 0.1% stake. 232,240 were reported by Ngam Advisors Limited Partnership. 823,248 are owned by Millennium Mgmt Ltd Company. Aviva Public Limited Liability Com accumulated 0.09% or 236,437 shares. Strs Ohio accumulated 969,602 shares. Mitsubishi Ufj Trust & Banking owns 795,713 shares. Kcm Advisors Limited Liability Corporation invested in 3,185 shares or 0.01% of the stock. Delta Asset Limited Com Tn has invested 0.02% in Equity Residential (NYSE:EQR). Blackrock Fund accumulated 10.87 million shares. Moody National Bank & Trust Tru Division owns 0.03% invested in Equity Residential (NYSE:EQR) for 9,400 shares. Ww Asset Mngmt reported 39,097 shares or 0.09% of all its holdings. Cornerstone Capital Ltd Limited Liability Company reported 279,014 shares or 0.14% of all its holdings. Morgan Stanley holds 0.29% or 13.91 million shares in its portfolio. Sun Life invested 0% of its portfolio in Equity Residential (NYSE:EQR). Glovista Invs reported 12,350 shares.

Since December 28, 2016, it had 0 buys, and 12 sales for $4.25 million activity. $86,639 worth of Equity Residential (NYSE:EQR) was sold by Manelis Michael L on Tuesday, February 7. 14,028 shares valued at $943,593 were sold by Santee David S on Thursday, April 27. STROHM BRUCE C sold $113,341 worth of stock or 1,686 shares. 355 shares were sold by Sorenson Christa L, worth $21,463 on Tuesday, February 7. The insider WHITE B JOSEPH sold $361,756. Another trade for 28,157 shares valued at $1.86 million was sold by GEORGE ALAN W. Brackenridge Alexander sold 1,480 shares worth $89,481.

Equity Residential (NYSE:EQR) Stock Upgrade

Bank of America Corporation raised shares of Equity Residential (NYSE:EQR) to a solid “Buy” rating from the previous “Neutral”. This change in rating was issued in analysts note today.

Investors sentiment increased to 0.87 in 2016 Q4. Its up 0.08, from 0.79 in 2016Q3. It is positive, as 52 investors sold Equity Residential shares while 169 reduced holdings. 56 funds opened positions while 136 raised stakes. 339.21 million shares or 0.51% less from 340.93 million shares in 2016Q3 were reported.

Cleararc Inc reported 0.1% stake. 232,240 were reported by Ngam Advisors Limited Partnership. 823,248 are owned by Millennium Mgmt Ltd Company. Aviva Public Limited Liability Com accumulated 0.09% or 236,437 shares. Strs Ohio accumulated 969,602 shares. Mitsubishi Ufj Trust & Banking owns 795,713 shares. Kcm Advisors Limited Liability Corporation invested in 3,185 shares or 0.01% of the stock. Delta Asset Limited Com Tn has invested 0.02% in Equity Residential (NYSE:EQR). Blackrock Fund accumulated 10.87 million shares. Moody National Bank & Trust Tru Division owns 0.03% invested in Equity Residential (NYSE:EQR) for 9,400 shares. Ww Asset Mngmt reported 39,097 shares or 0.09% of all its holdings. Cornerstone Capital Ltd Limited Liability Company reported 279,014 shares or 0.14% of all its holdings. Morgan Stanley holds 0.29% or 13.91 million shares in its portfolio. Sun Life invested 0% of its portfolio in Equity Residential (NYSE:EQR). Glovista Invs reported 12,350 shares.

Since December 28, 2016, it had 0 buys, and 12 sales for $4.25 million activity. $86,639 worth of Equity Residential (NYSE:EQR) was sold by Manelis Michael L on Tuesday, February 7. 14,028 shares valued at $943,593 were sold by Santee David S on Thursday, April 27. STROHM BRUCE C sold $113,341 worth of stock or 1,686 shares. 355 shares were sold by Sorenson Christa L, worth $21,463 on Tuesday, February 7. The insider WHITE B JOSEPH sold $361,756. Another trade for 28,157 shares valued at $1.86 million was sold by GEORGE ALAN W. Brackenridge Alexander sold 1,480 shares worth $89,481.

Equity Residential (NYSE:EQR) Ratings Coverage

Among 20 analysts covering Equity Residential (NYSE:EQR), 4 have Buy rating, 1 Sell and 15 Hold. Therefore 20% are positive. Equity Residential has $91 highest and $6100 lowest target. $74.43’s average target is 8.51% above currents $68.59 stock price. Equity Residential had 46 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Equity Residential (NYSE:EQR) earned “Buy” rating by SunTrust on Thursday, June 2. The firm has “Neutral” rating given on Tuesday, January 10 by Janney Capital. The firm earned “Buy” rating on Tuesday, January 12 by Jefferies. The firm has “Market Perform” rating given on Tuesday, January 19 by JMP Securities. The stock of Equity Residential (NYSE:EQR) earned “Buy” rating by Janney Capital on Wednesday, May 18. The stock has “Sector Perform” rating by RBC Capital Markets on Monday, May 2. Citigroup downgraded Equity Residential (NYSE:EQR) rating on Wednesday, March 30. Citigroup has “Neutral” rating and $79 target. Deutsche Bank maintained it with “Hold” rating and $74 target in Monday, July 18 report. The firm earned “Market Outperform” rating on Tuesday, September 15 by JMP Securities. Bank of America upgraded Equity Residential (NYSE:EQR) on Friday, June 16 to “Buy” rating.

About 122,557 shares traded. Equity Residential (NYSE:EQR) has risen 2.77% since June 19, 2016 and is uptrending. It has underperformed by 13.93% the S&P500.

Wall Street await Equity Residential (NYSE:EQR) to release earnings on July, 25. Analysts forecast EPS of $0.77, up exactly $0.01 or 1.32 % from 2014’s $0.76 EPS. The expected EQR’s profit could reach $286.03M giving the stock 22.28 P/E in the case that $0.77 earnings per share is reported. After posting $0.74 EPS for the previous quarter, Equity Residential’s analysts now forecast 4.05 % EPS growth.

Equity Residential is a real estate investment trust. The company has market cap of $25.48 billion. The Company’s primary business is the acquisition, development and management of multifamily residential properties. It has a 21.53 P/E ratio. The Company’s divisions include Boston, New York, Washington D.C., Southern California, San Francisco, Seattle and Other Markets.

More important recent Equity Residential (NYSE:EQR) news were published by: Bizjournals.com which released: “How Equity Residential combined old and new to create 455 Eye Apartments” on June 06, 2017, also Nasdaq.com published article titled: “Equity Residential (EQR) Shares Cross 3% Yield Mark”, Seekingalpha.com published: “BAML swaps out Aimco for Equity Residential; Camden Property made a top pick” on June 16, 2017. More interesting news about Equity Residential (NYSE:EQR) was released by: Nasdaq.com and their article: “The Zacks Analyst Blog Highlights: United Technologies, Abbott, Delta Air …” with publication date: June 15, 2017.

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