Barclays Issues Pessimistic Forecast for Equity Residential (NYSE:EQR) Stock Price

Equity Residential (NYSE:EQR) had its price target lowered by research analysts at Barclays from $83.00 to $79.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 15.82% from the stock’s previous close.

EQR has been the subject of several other research reports. Scotiabank cut 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. Mizuho decreased their price objective on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada lowered 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. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.47.

Equity Residential Stock Performance

Shares of NYSE EQR opened at $68.21 on Friday. The company has a market capitalization of $25.88 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 5.36 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The company’s fifty day moving average price is $72.20 and its 200 day moving average price is $72.62. Equity Residential has a 1 year low of $57.33 and a 1 year high of $78.83.

Hedge Funds Weigh In On Equity Residential

Institutional investors have recently bought and sold shares of the company. Maryland Capital Advisors Inc. purchased a new position in Equity Residential in the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in Equity Residential during the 3rd quarter worth $29,000. Assetmark Inc. increased its holdings in 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 purchasing an additional 430 shares during the period. Brooklyn Investment Group acquired a new stake in Equity Residential in the 3rd quarter valued at about $33,000. Finally, 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 buying an additional 195 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

About Equity Residential

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.