Truist Financial Forecasts Strong Price Appreciation for Equity Residential (NYSE:EQR) Stock

Equity Residential (NYSE:EQR - Get Free Report) had its price objective increased by stock analysts at Truist Financial from $76.00 to $78.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price objective would indicate a potential upside of 11.63% from the company's current price.

A number of other brokerages have also weighed in on EQR. Mizuho cut their price target 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. StockNews.com upgraded Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Scotiabank upped their price target on Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research report on Friday, February 14th. Barclays lowered their price objective on shares of Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Finally, Stifel Nicolaus set a $82.25 target price on shares of Equity Residential in a report on Tuesday, February 4th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $78.51.

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Equity Residential Trading Down 1.4 %

Shares of EQR traded down $1.01 during trading hours on Monday, reaching $69.87. The stock had a trading volume of 2,180,345 shares, compared to its average volume of 1,595,806. The firm has a 50-day moving average of $70.73 and a 200 day moving average of $72.93. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The company has a market cap of $26.53 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.99 and a beta of 0.91. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84.

Insider Activity at Equity Residential

In other news, EVP Scott Fenster sold 5,340 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $384,800.40. Following the completion of the sale, the executive vice president now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ian Kaufman sold 642 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $46,262.52. Following the transaction, the chief accounting officer now directly owns 25,539 shares in the company, valued at approximately $1,840,340.34. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock worth $1,424,217 in the last ninety days. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equity Residential

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Keybank National Association OH increased its position in shares of Equity Residential by 2.0% in the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after purchasing an additional 139 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of Equity Residential by 25.3% during the 4th quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 146 shares during the period. Transamerica Financial Advisors Inc. boosted its position in shares of Equity Residential by 4.1% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 3,827 shares of the real estate investment trust's stock worth $275,000 after acquiring an additional 151 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Equity Residential by 38.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 156 shares during the last quarter. Finally, Smithfield Trust Co raised its position in Equity Residential by 20.9% during the third quarter. Smithfield Trust Co now owns 1,209 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 209 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

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.