Equity Residential (NYSE:EQR) Short Interest Up 16.2% in February

Equity Residential (NYSE:EQR) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 6,670,000 shares, an increase of 16.2% from the February 13th total of 5,740,000 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is presently 4.2 days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EQR shares. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Barclays dropped their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Evercore ISI lifted their price objective on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Mizuho dropped their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Truist Financial boosted their price target on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Ten investment 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.com, the company currently has an average rating of “Hold” and an average price target of $78.51.

Equity Residential Trading Up 0.4 %

Shares of NYSE EQR traded up $0.28 during trading on Wednesday, reaching $69.79. The company had a trading volume of 1,248,010 shares, compared to its average volume of 1,582,347. The company’s fifty day moving average price is $70.64 and its 200-day moving average price is $72.73. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84. The stock has a market cap of $26.50 billion, a P/E ratio of 25.66, a PEG ratio of 3.99 and a beta of 0.91. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72.

Insider Activity at Equity Residential

In related news, COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the sale, the chief operating officer now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Garechana sold 4,294 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $309,425.64. Following the completion of the sale, the chief financial officer now directly owns 14,108 shares in the company, valued at approximately $1,016,622.48. This represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Equity Residential

Institutional investors have recently made changes to their positions in the stock. Vert Asset Management LLC grew its position in shares of Equity Residential by 7.5% in the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust’s stock valued at $10,782,000 after buying an additional 10,472 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Equity Residential during the 3rd quarter valued at about $923,000. Atomi Financial Group Inc. boosted its position in shares of Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 284 shares in the last quarter. Mission Wealth Management LP bought a new stake in shares of Equity Residential during the 4th quarter valued at about $321,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Equity Residential by 119.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust’s stock valued at $34,714,000 after purchasing an additional 263,622 shares in the last quarter. 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.