Equity Residential (NYSE:EQR) Short Interest Down 22.3% in December

Equity Residential (NYSE:EQRGet Rating) was the recipient of a significant decline in short interest in December. As of December 30th, there was short interest totalling 4,940,000 shares, a decline of 22.3% from the December 15th total of 6,360,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,250,000 shares, the short-interest ratio is currently 2.2 days.

Insider Buying and Selling

In related news, Director David J. Neithercut sold 40,000 shares of the business’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $62.75, for a total transaction of $2,510,000.00. Following the sale, the director now owns 3,392 shares of the company’s stock, valued at $212,848. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Equity Residential

Several large investors have recently made changes to their positions in EQR. American Century Companies Inc. increased its position in shares of Equity Residential by 234.9% in the first quarter. American Century Companies Inc. now owns 12,882 shares of the real estate investment trust’s stock worth $1,158,000 after acquiring an additional 9,035 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Equity Residential by 45.5% in the first quarter. Private Advisor Group LLC now owns 4,761 shares of the real estate investment trust’s stock worth $428,000 after acquiring an additional 1,489 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Equity Residential by 85.2% in the first quarter. Panagora Asset Management Inc. now owns 11,356 shares of the real estate investment trust’s stock worth $1,021,000 after acquiring an additional 5,224 shares in the last quarter. Prudential PLC acquired a new stake in shares of Equity Residential in the first quarter worth $687,000. Finally, Baird Financial Group Inc. increased its position in shares of Equity Residential by 8.5% in the first quarter. Baird Financial Group Inc. now owns 9,295 shares of the real estate investment trust’s stock worth $836,000 after acquiring an additional 730 shares in the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.

Equity Residential Stock Performance

Shares of EQR stock opened at $60.71 on Friday. Equity Residential has a one year low of $57.38 and a one year high of $94.32. The company has a 50 day moving average price of $61.31 and a 200 day moving average price of $67.43. The firm has a market capitalization of $22.94 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.20 and a current ratio of 0.20.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, December 30th. Equity Residential’s payout ratio is currently 82.24%.

Analyst Ratings Changes

EQR has been the topic of several recent research reports. Piper Sandler reduced their price target on shares of Equity Residential from $70.00 to $62.00 and set an “underweight” rating on the stock in a report on Friday, October 7th. Truist Financial raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Tuesday. BMO Capital Markets downgraded shares of Equity Residential from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $70.00 to $61.00 in a report on Friday, December 16th. Credit Suisse Group downgraded shares of Equity Residential from an “outperform” rating to a “neutral” rating and set a $58.00 price target on the stock. in a report on Monday, January 9th. Finally, BTIG Research lowered shares of Equity Residential from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.56.

About Equity Residential

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Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.

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