Equity Residential (NYSE:EQR – Get Rating) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 6,840,000 shares, an increase of 38.5% from the December 31st total of 4,940,000 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average trading volume of 2,290,000 shares, the short-interest ratio is currently 3.0 days.
Equity Residential Stock Performance
Shares of EQR opened at $63.36 on Friday. Equity Residential has a 12 month low of $57.38 and a 12 month high of $94.32. The firm has a fifty day simple moving average of $61.31 and a 200 day simple moving average of $67.07. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.51 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.67.
Get Equity Residential alerts:Equity Residential Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.95%. The ex-dividend date was Friday, December 30th. Equity Residential's payout ratio is 82.24%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Piper Sandler dropped their price target on shares of Equity Residential from $70.00 to $62.00 and set an "underweight" rating for the company in a research note on Friday, October 7th. Stifel Nicolaus dropped their price target on shares of Equity Residential from $84.00 to $75.00 in a research note on Friday, October 7th. Mizuho dropped their price target on shares of Equity Residential from $77.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, November 10th. BMO Capital Markets downgraded shares of Equity Residential from a "market perform" rating to an "underperform" rating and dropped their price target for the stock from $70.00 to $61.00 in a research note on Friday, December 16th. Finally, StockNews.com began coverage on shares of Equity Residential in a research note on Wednesday, October 12th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Equity Residential has an average rating of "Hold" and an average target price of $71.56.Insiders Place Their Bets
In other Equity Residential news, Director David J. Neithercut sold 40,000 shares of the business's stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $62.75, for a total value of $2,510,000.00. Following the completion of the transaction, the director now directly owns 3,392 shares of the company's stock, valued at $212,848. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in Equity Residential by 290.5% during the third quarter. EverSource Wealth Advisors LLC now owns 410 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 305 shares in the last quarter. Boyd Watterson Asset Management LLC OH bought a new stake in Equity Residential during the fourth quarter worth $35,000. Guardian Wealth Advisors LLC bought a new stake in Equity Residential during the third quarter worth $41,000. CVA Family Office LLC raised its position in Equity Residential by 84.0% during the third quarter. CVA Family Office LLC now owns 690 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 315 shares in the last quarter. Finally, IFP Advisors Inc raised its position in Equity Residential by 32.2% during the third quarter. IFP Advisors Inc now owns 776 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 82.62% of the company's stock.
Equity Residential Company Profile
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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.
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