Equity Residential (NYSE:EQR) Sees Large Increase in Short Interest

Equity Residential (NYSE:EQR - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 5,470,000 shares, an increase of 7.7% from the March 15th total of 5,080,000 shares. Based on an average daily volume of 2,110,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.5% of the shares of the stock are sold short.

Equity Residential Trading Up 1.2 %

Shares of EQR traded up $0.72 during trading hours on Wednesday, reaching $60.40. 2,744,789 shares of the company traded hands, compared to its average volume of 2,070,125. Equity Residential has a 12 month low of $52.57 and a 12 month high of $69.45. The company has a market capitalization of $22.92 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 3.52 and a beta of 0.84. The company's fifty day moving average price is $61.39 and its two-hundred day moving average price is $59.61. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.66.

Equity Residential (NYSE:EQR - Get Free Report) last released its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.18). Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The firm had revenue of $727.50 million during the quarter, compared to analysts' expectations of $725.07 million. During the same quarter in the previous year, the business earned $0.94 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts predict that Equity Residential will post 3.86 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were issued a $0.675 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.70 annualized dividend and a yield of 4.47%. This is a boost from Equity Residential's previous quarterly dividend of $0.66. Equity Residential's dividend payout ratio (DPR) is currently 122.73%.

Insider Transactions at Equity Residential

In related news, CFO Robert Garechana sold 876 shares of the business's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the completion of the transaction, the chief financial officer now owns 20,933 shares of the company's stock, valued at $1,209,927.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Robert Garechana sold 876 shares of Equity Residential stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $50,632.80. Following the transaction, the chief financial officer now directly owns 20,933 shares of the company's stock, valued at $1,209,927.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ian Kaufman sold 716 shares of the company's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $41,384.80. Following the sale, the chief accounting officer now owns 23,949 shares of the company's stock, valued at $1,384,252.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,280 shares of company stock valued at $192,335. 1.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vert Asset Management LLC raised its stake in shares of Equity Residential by 8.1% in the first quarter. Vert Asset Management LLC now owns 149,842 shares of the real estate investment trust's stock worth $9,457,000 after buying an additional 11,289 shares during the period. Sarasin & Partners LLP increased its holdings in Equity Residential by 5.0% in the 1st quarter. Sarasin & Partners LLP now owns 80,079 shares of the real estate investment trust's stock worth $5,054,000 after acquiring an additional 3,802 shares in the last quarter. Aurora Investment Managers LLC. raised its stake in Equity Residential by 22.6% during the 1st quarter. Aurora Investment Managers LLC. now owns 46,261 shares of the real estate investment trust's stock worth $2,920,000 after acquiring an additional 8,520 shares during the period. Park Avenue Securities LLC lifted its holdings in Equity Residential by 34.5% during the first quarter. Park Avenue Securities LLC now owns 6,106 shares of the real estate investment trust's stock valued at $385,000 after purchasing an additional 1,566 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of Equity Residential by 0.3% in the first quarter. Czech National Bank now owns 60,730 shares of the real estate investment trust's stock worth $3,833,000 after purchasing an additional 210 shares during the period. Institutional investors own 92.68% of the company's stock.

Wall Street Analysts Forecast Growth

EQR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Equity Residential in a research report on Tuesday, January 30th. They set a "hold" rating and a $64.00 target price for the company. Royal Bank of Canada upped their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an "outperform" rating in a report on Thursday, February 1st. The Goldman Sachs Group reiterated a "buy" rating and set a $70.00 price target on shares of Equity Residential in a research note on Thursday, February 22nd. Truist Financial cut their target price on Equity Residential from $71.00 to $67.00 and set a "buy" rating on the stock in a research report on Tuesday, April 9th. Finally, Morgan Stanley boosted their price target on shares of Equity Residential from $58.00 to $64.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.32.

Equity Residential Company Profile

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.