Market Analysts see Equity Residential [EQR] falling to $61. Time to buy?

Equity Residential [NYSE: EQR] surged by $1.06 during the normal trading session on Thursday and reaching a high of $59.94 during the day while it closed the day at $59.84. The company report on December 15, 2022 that Equity Residential Declares Fourth Quarter Dividends.

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Equity Residential (NYSE: EQR) today announced that its Board of Trustees declared quarterly dividends on the Company’s common and preferred shares. A regular common share dividend for the fourth quarter of $0.625 per share will be paid on January 13, 2023 to shareholders of record on January 3, 2023.

A quarterly dividend of $1.03625 per share will be paid on January 3, 2023 to shareholders of record on December 22, 2022 of the Company’s Series K Preferred Shares.

Equity Residential stock has also gained 1.23% of its value over the past 7 days. However, EQR stock has declined by -9.63% in the 3 months of the year. Over the past six months meanwhile, it has lost -17.14% and lost -33.88% year-on date.

The market cap for EQR stock reached $22.45 billion, with 375.85 million shares outstanding and 371.23 million shares in the current float. Compared to the average trading volume of 2.09M shares, EQR reached a trading volume of 4014609 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $69.71 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.

BMO Capital Markets have made an estimate for Equity Residential shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on December 16, 2022. The new note on the price target was released on November 17, 2022, representing the official price target for Equity Residential stock. Previously, the target price had yet another drop from $72 to $64, while Jefferies kept a Hold rating on EQR stock. On October 06, 2022, analysts decreased their price target for EQR shares from 88 to 74.

The Average True Range (ATR) for Equity Residential is set at 1.38, with the Price to Sales ratio for EQR stock in the period of the last 12 months amounting to 8.38. The Price to Book ratio for the last quarter was 2.04, 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 47.09.

EQR stock trade performance evaluation

Equity Residential [EQR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.23. With this latest performance, EQR shares dropped by -5.88% in over the last four-week period, additionally sinking by -17.14% over the last 6 months – not to mention a drop of -33.91% 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 41.97, with the RSI for the last a single of trading hit 42.08, and the three-weeks RSI is set at 42.45 for Equity Residential [EQR]. The present Moving Average for the last 50 days of trading for this stock 62.23, while it was recorded at 59.31 for the last single week of trading, and 73.04 for the last 200 days.

Equity Residential [EQR]: Insider Ownership positions

There are presently around $20,674 million, or 93.10% 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 1.77% of the total institutional ownership; BLACKROCK INC., holding 35,874,599 shares of the stock with an approximate value of $2.15 billion in EQR stocks shares; and NORGES BANK, currently with $1.8 billion in EQR stock with ownership of nearly 0% of the company’s market capitalization.

282 institutional holders increased their position in Equity Residential [NYSE:EQR] by around 12,630,858 shares. Additionally, 294 investors decreased positions by around 13,277,916 shares, while 112 investors held positions by with 319,572,560 shares. The mentioned changes placed institutional holdings at 345,481,334 shares, according to the latest SEC report filing. EQR stock had 66 new institutional investments in for a total of 4,079,205 shares, while 68 institutional investors sold positions of 1,975,999 shares during the same period.


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