Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Equity Residential shares valued at $157,099 were sold by Fenster Scott on Aug 16. At $80.03 per share, Fenster Scott sold 1,963 shares. The insider’s holdings dropped to 24,927 shares worth approximately $1.72 million following the completion of this transaction.
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Also, Manelis Michael L sold 10,000 shares, netting a total of over 800,470 in proceeds. Following the sale of shares at $80.05 each, the insider now holds 22,130 shares.
Before that, Garechana Robert had sold 16,895 shares from its account. In a trade valued at $1,351,600, the EVP & Chief Financial Officer traded Equity Residential shares for $80.00 each. Upon closing the transaction, the insider’s holdings decreased to 16,895 shares, worth approximately $1.74 million.
As published in a research note from Piper Sandler on July 20, 2022, Equity Residential [EQR] has been rated down from a Neutral to an Underweight and the price target has been revised to $70 from $78. This represents a 1.66% premium over Thursday’s closing price. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in late June. As of June 22, 2022, RBC Capital Mkts has increased its “Sector perform” rating to a “an Outperform” for EQR. Earlier on May 17, 2022, Mizuho upgraded its rating. Their new recommendation was “a Buy” for EQR stock which previously was a “a Neutral”.
Analyzing EQR’s Price Performance
On Thursday, Equity Residential [NYSE: EQR] rose 0.22% to $68.84. The stock’s lowest price that day was $67.72, but it reached a high of $69.27 in the same session. During the last five days, there has been a drop of approximately -5.61%. Over the course of the year, Equity Residential shares have dropped approximately -23.93%. Shares of the company reached a 52-week high of $94.32 on 04/21/22 and a 52-week low of $67.48 on 06/16/22. A 50-day SMA is recorded $75.14, while a 200-day SMA reached $81.57. Nevertheless, trading volume fell to 1.75 million shares from 1.64 million shares the previous day.
Support And Resistance Levels for Equity Residential (EQR)
According to the 24-hour chart, there is a support level at 67.95, which, if violated, would cause prices to drop to 67.06. In the upper region, resistance lies at 69.50. The next price resistance is at 70.16. RSI (Relative Strength Index) is 29.75 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.55, which suggests the price will decrease in the coming days. Percent R is at 89.02%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Equity Residential subject to short interest?
Stocks of Equity Residential saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.46 million shares to 4.5 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.96 million shares. A decline of -10.22% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.57 of the overall float, the days-to-cover ratio (short ratio) decline to 2.57.
Which companies own the most shares of Equity Residential (EQR)?
According to The Vanguard Group, Inc. filings, the company currently owns 55,478,254 shares, which is about 14.75% of the total EQR shares outstanding. The investor’s shares have plunged by -482,317 from its previous 13-F filing of 55960571.0 shares. BlackRock Fund Advisors acquire a 0.07% interest valued at $1.77 billion while SSgA Funds Management, Inc. sold a -228,928 stake. A total of -96,027 shares of Equity Residential were sold by T. Rowe Price Associates, Inc. during the quarter, and -319,431 were sold by APG Asset Management US, Inc.. In its current portfolio, Managed Account Advisors LLC holds 10,240,873 shares valued at $749.43 million.
In terms of Equity Residential share price expectations, FactSet research, analysts set an average price target of $84.45 in the next 12 months, up nearly 21.56% from the previous closing price of $68.69. Analysts anticipate Equity Residential stock to reach $102.00 by 2022, with the lowest price target being $70.00. In spite of this, 26 analysts ranked Equity Residential stock as an Overweight at the end of 2022. On May 09, 2022, BTIG Research assigned a price target of “a Buy” to the stock and resumed coverage with a $95.