Equity Residential (NYSE:EQR) Price Target Raised to $78.00

Equity Residential (NYSE:EQR) had its price objective hoisted by Truist Financial from $76.00 to $78.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Scotiabank boosted their price objective on shares of Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Stifel Nicolaus set a $82.25 price objective on shares of Equity Residential in a report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Finally, Mizuho dropped their price objective on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $78.51.

Equity Residential Price Performance

NYSE EQR opened at $68.97 on Monday. The firm’s fifty day simple moving average is $70.64 and its two-hundred day simple moving average is $72.87. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 12-month low of $59.48 and a 12-month high of $78.84. The firm has a market capitalization of $26.19 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.99 and a beta of 0.91.

Insiders Place Their Bets

In related news, CAO Ian Kaufman sold 642 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the sale, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This represents a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Fenster sold 5,340 shares of the 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 $384,800.40. Following the completion of the sale, the executive vice president now owns 35,507 shares of the company’s stock, valued at approximately $2,558,634.42. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,763 shares of company stock valued at $1,424,217. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SRS Capital Advisors Inc. lifted its position in shares of Equity Residential by 607.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential in the third quarter worth about $29,000. Assetmark Inc. lifted its position in shares of Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Equity Residential in the third quarter worth about $33,000. Finally, Continuum Advisory LLC purchased a new stake in shares of Equity Residential in the third quarter worth about $40,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

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