Short Interest in Equity Residential (NYSE:EQR) Expands By 18.3%

Equity Residential (NYSE:EQR) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 5,560,000 shares, a growth of 18.3% from the October 31st total of 4,700,000 shares. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is currently 3.5 days.

Analysts Set New Price Targets

EQR has been the subject of several recent research reports. Scotiabank decreased their target price on shares of 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. JPMorgan Chase & Co. boosted their target price on Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group started coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target for the company. Wedbush boosted their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the stock from $77.75 to $81.50 in a research note on Wednesday, November 13th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.25.

Hedge Funds Weigh In On Equity Residential

Several hedge funds have recently bought and sold shares of the stock. 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 purchased a new position in shares of Equity Residential during the 3rd quarter worth $29,000. Brooklyn Investment Group acquired a new stake in shares of Equity Residential during the third quarter worth $33,000. Assetmark Inc. grew its position in shares of Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares during the period. Finally, UMB Bank n.a. increased its stake in 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 purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

Shares of Equity Residential stock traded down $0.82 on Friday, hitting $76.66. The company’s stock had a trading volume of 1,464,554 shares, compared to its average volume of 1,463,315. 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 firm has a fifty day moving average price of $74.10 and a 200-day moving average price of $71.42. Equity Residential has a 52-week low of $56.40 and a 52-week high of $78.83. The company has a market capitalization of $29.09 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 6.22 and a beta of 0.90.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

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.