Equity Residential (NYSE:EQR) Upgraded by StockNews.com to Hold Rating

Equity Residential (NYSE:EQR) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

A number of other research analysts have also recently weighed in on the company. Royal Bank of Canada reduced their target price on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Mizuho dropped their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Scotiabank decreased their price objective on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $78.69.

Equity Residential Price Performance

Shares of NYSE EQR traded up $2.26 during trading on Monday, hitting $69.24. 2,270,301 shares of the company were exchanged, compared to its average volume of 1,721,484. The firm’s fifty day moving average price is $72.64 and its 200 day moving average price is $72.57. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 5.94 and a beta of 0.93. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board lifted its stake in Equity Residential by 1.2% in the second quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock valued at $346,794,000 after buying an additional 60,000 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Equity Residential in the 3rd quarter valued at about $923,000. Public Sector Pension Investment Board boosted its stake in Equity Residential by 18.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 47,997 shares of the real estate investment trust’s stock valued at $3,328,000 after purchasing an additional 7,549 shares during the period. Tidal Investments LLC grew its position in Equity Residential by 12.3% in the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock worth $9,625,000 after purchasing an additional 14,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Equity Residential by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock valued at $298,461,000 after purchasing an additional 124,795 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

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.