Barclays Initiates Coverage on Equity Residential (NYSE:EQR)

Investment analysts at Barclays began coverage on shares of Equity Residential (NYSE:EQR) in a research note issued on Tuesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $83.00 price target on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 18.25% from the company’s current price.

Other research analysts also recently issued reports about the stock. Bank of America downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price objective for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. BNP Paribas initiated coverage on Equity Residential in a report on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target for the company. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Finally, StockNews.com cut shares of Equity Residential from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and an average price target of $78.14.

Equity Residential Price Performance

EQR stock opened at $70.19 on Tuesday. The company has a market capitalization of $26.63 billion, a PE ratio of 28.77, a P/E/G ratio of 5.90 and a beta of 0.92. 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 moving average is $73.89 and its two-hundred day moving average is $72.11. Equity Residential has a 52-week low of $57.33 and a 52-week high of $78.83.

Institutional Investors Weigh In On Equity Residential

Several institutional investors have recently bought and sold shares of the stock. Maryland Capital Advisors Inc. acquired a new stake in shares of Equity Residential in the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new position in Equity Residential during the 3rd quarter valued at $29,000. Brooklyn Investment Group acquired a new position in shares of Equity Residential during the 3rd quarter valued at $33,000. Assetmark Inc. raised its stake in shares of Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds 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.