Short Interest in Equity Residential (NYSE:EQR) Decreases By 20.7%

Equity Residential (NYSE:EQR - Get Free Report) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 4,700,000 shares, a drop of 20.7% from the October 15th total of 5,930,000 shares. Based on an average trading volume of 1,550,000 shares, the days-to-cover ratio is presently 3.0 days.

Analyst Upgrades and Downgrades

EQR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a "hold" rating to a "buy" rating and lifted their target price for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. BNP Paribas started coverage on Equity Residential in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $83.00 price objective for the company. Evercore ISI increased their target price on Equity Residential from $75.00 to $76.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Royal Bank of Canada lowered their target price on Equity Residential from $83.00 to $79.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company lowered shares of Equity Residential from an "overweight" rating to an "equal weight" rating and boosted their price target for the stock from $69.00 to $77.00 in a research note on Monday, August 26th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $77.25.

Hedge Funds Weigh In On Equity Residential

Several hedge funds have recently made changes to their positions in EQR. Tobam boosted its position in shares of Equity Residential by 8.6% in the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust's stock valued at $143,000 after purchasing an additional 152 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Equity Residential by 4.5% in the second quarter. Checchi Capital Advisers LLC now owns 3,522 shares of the real estate investment trust's stock valued at $244,000 after acquiring an additional 153 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of Equity Residential by 41.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 155 shares during the last quarter. UMB Bank n.a. grew its position in shares of Equity Residential by 69.6% during the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 195 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Equity Residential by 32.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 92.68% of the company's stock.

Equity Residential Stock Up 0.7 %

EQR stock traded up $0.52 during trading on Friday, hitting $73.59. 1,486,706 shares of the company's stock were exchanged, compared to its average volume of 1,850,420. The business has a 50-day moving average price of $74.32 and a two-hundred day moving average price of $70.71. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $27.92 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 6.07 and a beta of 0.90. Equity Residential has a 52-week low of $54.53 and a 52-week high of $78.83.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.67%. Equity Residential's dividend payout ratio is presently 110.66%.

Equity Residential Company Profile

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.