Evercore ISI Forecasts Strong Price Appreciation for Equity Residential (NYSE:EQR) Stock

Equity Residential (NYSE:EQR) had its price objective boosted by investment analysts at Evercore ISI from $74.00 to $76.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would suggest a potential upside of 7.63% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Scotiabank cut their target price on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Barclays reduced their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Mizuho cut their price objective 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, Royal Bank of Canada decreased their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $78.36.

Equity Residential Stock Performance

Equity Residential stock traded down $0.72 during mid-day trading on Monday, reaching $70.61. The company’s stock had a trading volume of 239,515 shares, compared to its average volume of 1,703,668. The firm has a market cap of $26.79 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 4.49 and a beta of 0.93. Equity Residential has a twelve month low of $57.33 and a twelve month high of $78.83. The business has a 50 day moving average price of $70.92 and a 200-day moving average price of $72.73. The company has a current ratio of 0.36, a quick ratio of 0.13 and a debt-to-equity ratio of 0.72.

Insider Activity

In other news, CFO Robert Garechana sold 4,294 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 14,108 shares of the company’s stock, valued at approximately $1,016,622.48. This represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Fenster sold 5,340 shares of Equity Residential stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $384,800.40. Following the sale, the executive vice president now directly owns 35,507 shares of the company’s stock, valued at approximately $2,558,634.42. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,763 shares of company stock worth $1,424,217 over the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equity Residential

Hedge funds and other institutional investors have recently made changes to their positions in the company. Maryland Capital Advisors Inc. bought a new position in Equity Residential during the third quarter valued at approximately $25,000. SRS Capital Advisors Inc. increased its stake in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Equity Residential during the 3rd quarter valued at $29,000. Assetmark Inc. boosted its holdings in 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 purchasing an additional 430 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Equity Residential during the third quarter worth $33,000. 92.68% of the stock is owned by hedge funds and other institutional investors.

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.