Equity Residential (NYSE:EQR) Downgraded by BTIG Research to “Neutral”

Equity Residential (NYSE:EQR – Get Rating) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat reports.

A number of other research analysts have also issued reports on EQR. Piper Sandler decreased their target price on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating on the stock in a research report on Friday, October 7th. BMO Capital Markets lowered Equity Residential from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $70.00 to $61.00 in a research note on Friday, December 16th. Mizuho cut their target price on Equity Residential from $77.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, November 10th. Truist Financial reduced their target price on Equity Residential from $83.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, November 30th. Finally, Evercore ISI reduced their target price on Equity Residential to $75.00 in a report on Thursday, October 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Equity Residential currently has a consensus rating of “Hold” and a consensus price target of $71.56.

Equity Residential Trading Up 0.2 %

Shares of Equity Residential stock opened at $61.52 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.20 and a current ratio of 0.20. The firm has a 50-day moving average of $61.33 and a 200-day moving average of $67.84. Equity Residential has a 52-week low of $57.38 and a 52-week high of $94.32. The stock has a market cap of $23.25 billion, a PE ratio of 20.24, a PEG ratio of 2.40 and a beta of 0.78.

Insider Activity

In other news, Director David J. Neithercut sold 40,000 shares of Equity Residential stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $62.75, for a total transaction of $2,510,000.00. Following the sale, the director now directly owns 3,392 shares of the company’s stock, valued at $212,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Trading of Equity Residential

A number of hedge funds have recently made changes to their positions in EQR. EverSource Wealth Advisors LLC boosted its stake in shares of Equity Residential by 290.5% during the third quarter. EverSource Wealth Advisors LLC now owns 410 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 305 shares in the last quarter. Allworth Financial LP raised its position in shares of Equity Residential by 48.2% during the second quarter. Allworth Financial LP now owns 486 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 158 shares during the last quarter. Guardian Wealth Advisors LLC bought a new position in shares of Equity Residential during the third quarter worth about $41,000. CVA Family Office LLC raised its position in shares of Equity Residential by 84.0% during the third quarter. CVA Family Office LLC now owns 690 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 315 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Equity Residential by 32.2% during the third quarter. IFP Advisors Inc now owns 776 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 189 shares during the last quarter. 82.62% of the stock is owned by institutional investors and hedge funds.

About Equity Residential

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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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.