StockNews.com Upgrades Equity Residential (NYSE:EQR) to Hold

Equity Residential (NYSE:EQR) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Other research analysts also recently issued reports about the company. Scotiabank dropped their price target on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Barclays initiated coverage on shares of Equity Residential in a research report on Tuesday, December 17th. They set an “overweight” rating and a $83.00 target price for the company. Evercore ISI boosted their price target on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Mizuho reduced their target price 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 investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.69.

Equity Residential Price Performance

Shares of Equity Residential stock opened at $69.98 on Monday. The company has a market capitalization of $26.55 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 5.94 and a beta of 0.93. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The stock’s 50-day simple moving average is $72.60 and its 200-day simple moving average is $72.57. Equity Residential has a 52 week low of $57.33 and a 52 week high of $78.83.

Hedge Funds Weigh In On Equity Residential

Hedge funds have recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. purchased a new position in shares of Equity Residential during the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Equity Residential during the 3rd quarter worth approximately $29,000. Assetmark Inc. lifted its stake in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 430 shares during the last quarter. Brooklyn Investment Group purchased a new position in Equity Residential during the 3rd quarter valued at $33,000. Finally, UMB Bank n.a. grew its position in Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 195 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

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.