Short Interest in Equity Residential (NYSE:EQR) Increases By 28.2%

Equity Residential (NYSE:EQR – Get Rating) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 8,140,000 shares, a growth of 28.2% from the January 31st total of 6,350,000 shares. Based on an average daily volume of 2,460,000 shares, the short-interest ratio is currently 3.3 days. Approximately 2.2% of the company’s stock are sold short.

Equity Residential Price Performance

Shares of EQR stock opened at $62.57 on Friday. The stock has a 50 day moving average of $62.33 and a two-hundred day moving average of $65.09. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.65. Equity Residential has a 12 month low of $57.38 and a 12 month high of $94.32. The company has a market capitalization of $23.69 billion, a P/E ratio of 30.37, a P/E/G ratio of 3.12 and a beta of 0.80.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were given a $0.625 dividend. The ex-dividend date was Friday, December 30th. This represents a $2.50 annualized dividend and a yield of 4.00%. Equity Residential’s payout ratio is 121.36%.

Analyst Ratings Changes

Several analysts have commented on EQR shares. Credit Suisse Group cut Equity Residential from an “outperform” rating to a “neutral” rating and set a $58.00 price target for the company. in a report on Monday, January 9th. Truist Financial raised Equity Residential from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, January 17th. BTIG Research lowered Equity Residential from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 11th. Argus upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Thursday, November 17th. Finally, Barclays decreased their price target on Equity Residential from $88.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, November 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Equity Residential has an average rating of “Hold” and an average target price of $71.88.

Insider Buying and Selling at Equity Residential

In related news, Director David J. Neithercut sold 40,000 shares of Equity Residential stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $62.75, for a total value of $2,510,000.00. Following the transaction, the director now directly owns 3,392 shares in the company, valued at approximately $212,848. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equity Residential

Several hedge funds and other institutional investors have recently made changes to their positions in EQR. American Century Companies Inc. increased its position in Equity Residential by 234.9% during 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 buying an additional 9,035 shares during the last quarter. Private Advisor Group LLC lifted its stake in Equity Residential by 45.5% during the first quarter. Private Advisor Group LLC now owns 4,761 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 1,489 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Equity Residential by 85.2% in the 1st quarter. Panagora Asset Management Inc. now owns 11,356 shares of the real estate investment trust’s stock valued at $1,021,000 after acquiring an additional 5,224 shares during the last quarter. Prudential PLC bought a new position in shares of Equity Residential in the 1st quarter valued at $687,000. Finally, Baird Financial Group Inc. increased its holdings in 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 valued at $836,000 after purchasing an additional 730 shares during the period. 82.62% of the stock is owned by institutional investors and hedge funds.

Equity Residential Company Profile

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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.