Checking in on Equity Residential (EQR) after recent insiders movement


Equity Residential’s filing revealed that its EVP & General Counsel Fenster Scott unloaded Company’s shares for reported $0.16 million on Aug 16. In the deal valued at $80.03 per share,1,963 shares were sold. As a result of this transaction, Fenster Scott now holds 24,927 shares worth roughly $ 1.5 million.

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Then, Manelis Michael L sold 10,000 shares, generating $800,470 in total proceeds. Upon selling the shares at $80.05, the Executive Vice President & COO now owns 22,130 shares.

Before that, Garechana Robert sold 16,895 shares. Equity Residential shares valued at $1,351,600 were divested by the EVP & Chief Financial Officer at a price of $80.00 per share. As a result of the transaction, Garechana Robert now holds 25,236 shares, worth roughly $1.52 million.

PT values the company’s stock at a premium of 5.95 to its Monday closing price. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who decreased its forecast for the stock in early October from “an Outperform” to “a Market perform”. Piper Sandler also remained covering EQR and has decreased its forecast on July 20, 2022 with a “an Underweight” recommendation from previously “Neutral” rating. Credit Suisse started covering the stock on June 23, 2022. It rated EQR as “an Outperform”.

Price Performance Review of EQR

On Monday, Equity Residential [NYSE:EQR] saw its stock fall -1.75% to $60.19. On the same session, the stock had its day’s lowest price of $59.68, but rose to a high of $61.74. Over the last five days, the stock has lost -4.49%. Equity Residential shares have fallen nearly -33.49% since the year began. Nevertheless, the stocks have fallen -28.74% over the past one year. While a 52-week high of $94.32 was reached on 04/21/22, a 52-week low of $59.32 was recorded on 11/04/22. SMA at 50 days reached $67.65, while 200 days put it at $77.58. A total of 2.02 million shares were traded, compared to the trading of 0.66 million shares in the previous session.

Levels Of Support And Resistance For EQR Stock

The 24-hour chart illustrates a support level at 59.33, which if violated will result in even more drops to 58.48. On the upside, there is a resistance level at 61.39. A further resistance level may holdings at 62.60. The Relative Strength Index (RSI) on the 14-day chart is 34.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.37%. Stochastics %K at 19.05% indicates the stock is a buying.

How much short interest is there in Equity Residential?

A steep rise in short interest was recorded in Equity Residential stocks on Jul 14, 2022, dropping by -0.46 million shares to a total of 4.5 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 4.96 million shares. There was a decline of -10.22%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.64% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.57.

Equity Residential [EQR] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 55,478,254 shares, or roughly 14.75% of the outstanding EQR shares. In other words, the investor’s shares have fallen by -482,317 from its previous 13-F filing of 55960571.0. Over the last quarter, SSgA Funds Management, Inc. sold -228,928 shares of Equity Residential, while T. Rowe Price Associates, Inc. sold -96,027 shares. At present, APG Asset Management US, Inc. is holding 12,119,742 shares valued at $814.69 million. Managed Account Advisors LLC owned 10,240,873 shares of the company at the time of its most recent 13F filing, worth $688.39 million.


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