Barclays Has Lowered Expectations for Equity Residential (NYSE:EQR) Stock Price

Equity Residential (NYSE:EQR) had its price objective dropped by research analysts at Barclays from $83.00 to $79.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price would suggest a potential upside of 15.62% from the company’s current price.

Several other research analysts have also commented on the company. Royal Bank of Canada reduced their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Stifel Nicolaus raised shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the stock from $77.75 to $81.50 in a research note on Wednesday, November 13th. Mizuho dropped their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Scotiabank reduced their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Finally, StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $78.36.

Equity Residential Price Performance

NYSE:EQR opened at $68.33 on Friday. The stock has a 50 day moving average price of $72.00 and a 200 day moving average price of $72.59. The stock has a market cap of $25.92 billion, a PE ratio of 28.00, a P/E/G 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. Equity Residential has a one year low of $57.33 and a one year high of $78.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Maryland Capital Advisors Inc. purchased a new stake in shares of Equity Residential in the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in Equity Residential in the third quarter valued at $29,000. Assetmark Inc. raised its stake in 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 buying an additional 430 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Equity Residential during the 3rd quarter worth about $33,000. Finally, UMB Bank n.a. lifted its holdings in Equity Residential by 69.6% during the 3rd 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 during the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

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.