Equity Residential (NYSE:EQR) Coverage Initiated at Barclays

Barclays assumed coverage on shares of Equity Residential (NYSE:EQR - Get Free Report) in a research note issued on Tuesday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $83.00 price target on the real estate investment trust's stock. Barclays's price objective indicates a potential upside of 14.01% from the stock's current price.

EQR has been the subject of several other reports. Scotiabank lowered their price target on shares of Equity Residential from $81.00 to $78.00 and set a "sector perform" rating for the company in a report on Thursday, November 14th. Royal Bank of Canada reduced their price target on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. BNP Paribas initiated coverage on shares of Equity Residential in a report on Wednesday, September 11th. They issued an "outperform" rating and a $83.00 price objective for the company. Bank of America lowered shares of Equity Residential from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Finally, Truist Financial lifted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $78.14.

Equity Residential Stock Performance

Equity Residential stock traded down $0.66 during midday trading on Tuesday, hitting $72.80. The company's stock had a trading volume of 1,551,688 shares, compared to its average volume of 1,807,778. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a 1-year low of $57.33 and a 1-year high of $78.83. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 5.90 and a beta of 0.92. The company has a 50-day moving average price of $73.94 and a two-hundred day moving average price of $72.07.

Institutional Trading of Equity Residential

Several hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of Equity Residential by 482.3% in the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust's stock worth $496,040,000 after acquiring an additional 5,925,177 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Equity Residential by 806.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust's stock valued at $317,136,000 after buying an additional 3,789,234 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Equity Residential by 1,459.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust's stock valued at $145,158,000 after buying an additional 1,824,494 shares during the last quarter. FMR LLC lifted its stake in Equity Residential by 29.0% during the 3rd quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock valued at $576,804,000 after acquiring an additional 1,741,840 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Equity Residential by 679.0% in the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust's stock worth $40,528,000 after acquiring an additional 518,424 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

About Equity Residential

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.