Equity Residential (NYSE:EQR) Short Interest Up 18.3% in November

Equity Residential (NYSE:EQR) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 5,560,000 shares, an increase of 18.3% from the October 31st total of 4,700,000 shares. Based on an average trading volume of 1,580,000 shares, the short-interest ratio is presently 3.5 days.

Hedge Funds Weigh In On Equity Residential

A number of large investors have recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Equity Residential in the second quarter worth about $3,893,000. Cetera Investment Advisers acquired a new stake in Equity Residential in the first quarter valued at approximately $2,841,000. Canada Pension Plan Investment Board grew its position in Equity Residential by 1.2% in the second quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock valued at $346,794,000 after acquiring an additional 60,000 shares in the last quarter. Quest Partners LLC raised its stake in shares of Equity Residential by 244,571.4% during the second quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust’s stock valued at $1,188,000 after purchasing an additional 17,120 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Equity Residential during the second quarter worth $8,585,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Trading Down 1.0 %

NYSE:EQR traded down $0.72 on Tuesday, reaching $74.52. The stock had a trading volume of 155,810 shares, compared to its average volume of 1,826,493. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The company has a market cap of $28.28 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 6.22 and a beta of 0.92. The firm’s fifty day moving average is $74.10 and its two-hundred day moving average is $71.45. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13.

Equity Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.62%. Equity Residential’s payout ratio is 110.66%.

Analysts Set New Price Targets

Several brokerages have weighed in on EQR. Scotiabank cut their price target on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. The Goldman Sachs Group started coverage on shares of Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price target for the company. Evercore ISI lifted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wedbush boosted their target price on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada decreased their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.25.

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.