Evercore ISI Issues Positive Forecast for Equity Residential (NYSE:EQR) Stock Price

Equity Residential (NYSE:EQR - Get Free Report) had its price target hoisted by investment analysts at Evercore ISI from $74.00 to $76.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price target points to a potential upside of 6.14% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. StockNews.com upgraded shares of Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Wells Fargo & Company decreased their price objective on shares of Equity Residential from $77.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, January 24th. Stifel Nicolaus upgraded Equity Residential from a "hold" rating to a "buy" rating and boosted their target price for the company from $77.75 to $81.50 in a research report on Wednesday, November 13th. Finally, Mizuho reduced their price target on Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $78.36.

Equity Residential Trading Up 0.9 %

Shares of Equity Residential stock traded up $0.63 on Monday, reaching $71.60. The company had a trading volume of 314,261 shares, compared to its average volume of 1,640,946. The firm has a market cap of $27.17 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 4.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.13. The firm's 50-day moving average price is $70.72 and its two-hundred day moving average price is $72.74. Equity Residential has a 1 year low of $58.10 and a 1 year high of $78.83.

Insider Activity

In other Equity Residential news, CFO Robert Garechana sold 4,294 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $309,425.64. Following the completion of the sale, the chief financial officer now directly owns 14,108 shares of the company's stock, valued at approximately $1,016,622.48. This represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Fenster sold 5,340 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the sale, the executive vice president now owns 35,507 shares in the company, valued at $2,558,634.42. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,763 shares of company stock worth $1,424,217. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Equity Residential

A number of hedge funds and other institutional investors have recently bought and sold shares of EQR. Norges Bank acquired a new position in shares of Equity Residential during the fourth quarter worth $2,493,426,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Equity Residential by 806.4% during the 3rd 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 worth $317,136,000 after buying an additional 3,789,234 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Equity Residential by 1,459.8% during 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 in the last quarter. FMR LLC raised its stake in Equity Residential by 29.0% in the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock valued at $576,804,000 after buying an additional 1,741,840 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Equity Residential by 12.0% in the fourth quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock valued at $468,050,000 after buying an additional 696,343 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.

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.