Equity Residential (NYSE:EQR) Downgraded to Sell Rating by StockNews.com

Equity Residential (NYSE:EQR) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group began coverage on Equity Residential in a report on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target for the company. Truist Financial increased their price target on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $83.00 in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada cut their price objective on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.25.

Equity Residential Price Performance

Shares of EQR stock traded down $0.12 during midday trading on Wednesday, reaching $72.78. 1,309,823 shares of the company traded hands, compared to its average volume of 1,816,456. 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 firm’s 50 day simple moving average is $73.95 and its two-hundred day simple moving average is $71.82. The firm has a market cap of $27.61 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 5.98 and a beta of 0.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tobam lifted its holdings in Equity Residential by 8.6% in the third quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock worth $143,000 after acquiring an additional 152 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in 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 buying an additional 153 shares during the last quarter. UMB Bank n.a. boosted its holdings 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 valued at $35,000 after acquiring an additional 195 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 200 shares during the last quarter. Finally, Modera Wealth Management LLC increased its holdings in shares of Equity Residential by 6.5% in the 3rd quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 200 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

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.