Equity Residential [EQR] moved up 0.37: Why It’s Important

Equity Residential [NYSE: EQR] jumped around 0.23 points on Thursday, while shares priced at $61.78 at the close of the session, up 0.37%. The company report on November 10, 2022 that Equity Residential to Participate in Nareit REITWorld Annual Conference.

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Equity Residential (NYSE: EQR) today announced that members of the Company’s senior management team, including the Company’s President and CEO, Mark J. Parrell, will participate in the Nareit REITWorld Annual Conference on Tuesday and Wednesday, November 15 and 16, 2022. In connection with this event, the Company has issued an Investor Update which can be found in the Investor section of the Company’s website at www.equityapartments.com.

Equity Residential stock is now -31.73% down from its year-to-date (YTD) trading value. EQR Stock saw the intraday high of $61.79 and lowest of $60.65 per share. The company’s 52-week high price is 94.32, which means current price is +4.15% above from all time high which was touched on 04/21/22.

Compared to the average trading volume of 1.73M shares, EQR reached a trading volume of 2170606 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Equity Residential [EQR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQR shares is $72.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQR stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Argus have made an estimate for Equity Residential shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 17, 2022. While these analysts kept the previous recommendation, Jefferies dropped their target price from $72 to $64. The new note on the price target was released on October 19, 2022, representing the official price target for Equity Residential stock. Previously, the target price had yet another drop from $88 to $74, while BMO Capital Markets kept a Market Perform rating on EQR stock. On July 20, 2022, analysts decreased their price target for EQR shares from 78 to 70.

The Average True Range (ATR) for Equity Residential is set at 1.92, with the Price to Sales ratio for EQR stock in the period of the last 12 months amounting to 8.87. The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 0.12. Price to Free Cash Flow for EQR in the course of the last twelve months was 49.89.

How has EQR stock performed recently?

Equity Residential [EQR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.42. With this latest performance, EQR shares dropped by -2.91% in over the last four-week period, additionally sinking by -15.76% over the last 6 months – not to mention a drop of -29.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EQR stock in for the last two-week period is set at 44.99, with the RSI for the last a single of trading hit 46.93, and the three-weeks RSI is set at 43.64 for Equity Residential [EQR]. The present Moving Average for the last 50 days of trading for this stock 65.57, while it was recorded at 62.00 for the last single week of trading, and 76.51 for the last 200 days.

Equity Residential [EQR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Equity Residential [EQR] shares currently have an operating margin of +25.51 and a Gross Margin at +26.53. Equity Residential’s Net Margin is presently recorded at +54.79.

Return on Equity for this stock inclined to 12.41, with Return on Assets sitting at 6.43.

Insider trade positions for Equity Residential [EQR]

There are presently around $21,343 million, or 93.50% of EQR stock, in the hands of institutional investors. The top three institutional holders of EQR stocks are: VANGUARD GROUP INC with ownership of 57,297,925, which is approximately 0.134% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 35,874,599 shares of the stock with an approximate value of $2.22 billion in EQR stocks shares; and NORGES BANK, currently with $1.86 billion in EQR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Equity Residential stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 280 institutional holders increased their position in Equity Residential [NYSE:EQR] by around 12,630,120 shares. Additionally, 295 investors decreased positions by around 13,272,855 shares, while 112 investors held positions by with 319,567,883 shares. The mentioned changes placed institutional holdings at 345,470,858 shares, according to the latest SEC report filing. EQR stock had 65 new institutional investments in for a total of 4,070,842 shares, while 68 institutional investors sold positions of 1,975,999 shares during the same period.


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