Equity Residential (NYSE:EQR) Raised to “Hold” at StockNews.com

Equity Residential (NYSE:EQR) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also issued reports on EQR. Royal Bank of Canada cut their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Scotiabank cut their price objective on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Mizuho lowered their target price on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Finally, Stifel Nicolaus raised shares of Equity Residential from a “hold” rating to a “buy” rating and raised their price objective for the company from $77.75 to $81.50 in a research note on Wednesday, November 13th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Equity Residential has an average rating of “Hold” and a consensus target price of $78.36.

Equity Residential Price Performance

Shares of EQR opened at $71.36 on Friday. The firm has a 50-day simple moving average of $70.92 and a two-hundred day simple moving average of $72.72. The stock has a market cap of $27.08 billion, a PE ratio of 26.24, a P/E/G ratio of 4.49 and a beta of 0.93. Equity Residential has a 1-year low of $57.33 and a 1-year high of $78.83. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.13.

Insiders Place Their Bets

In related news, CFO Robert Garechana sold 4,294 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the completion of the transaction, the chief financial officer now directly owns 14,108 shares of the company’s stock, valued at $1,016,622.48. This trade represents a 23.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael L. Manelis sold 9,487 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the transaction, the chief operating officer now directly owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. This trade represents a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,763 shares of company stock worth $1,424,217. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Equity Residential

Several hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Equity Residential by 806.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock worth $317,136,000 after purchasing an additional 3,789,234 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Equity Residential by 1,459.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock worth $145,158,000 after acquiring an additional 1,824,494 shares during the last quarter. FMR LLC grew its holdings in Equity Residential by 29.0% in the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock valued at $576,804,000 after purchasing an additional 1,741,840 shares during the period. Principal Financial Group Inc. increased its position in Equity Residential by 8.3% during the third quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after purchasing an additional 591,866 shares during the last quarter. Finally, Heitman Real Estate Securities LLC raised its stake in Equity Residential by 2,193.2% during the third quarter. Heitman Real Estate Securities LLC now owns 416,647 shares of the real estate investment trust’s stock worth $31,024,000 after purchasing an additional 398,478 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

About Equity Residential

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, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.