Market Runner: What’s Equity Residential Downside After Reaching 1 Year Low?

Market Runner: What's Equity Residential Downside After Reaching 1 Year Low?

The stock of Equity Residential (NYSE:EQR) hit a new 52-week low and has $56.38 target or 6.00% below today’s $59.98 share price. The 9 months bearish chart indicates high risk for the $21.48B company. The 1-year low was reported on Nov, 10 by Barchart.com. If the $56.38 price target is reached, the company will be worth $1.29 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 2.12% or $1.3 during the last trading session, hitting $59.98. About 2.29 million shares traded hands. Equity Residential (NYSE:EQR) has declined 17.09% since April 8, 2016 and is downtrending. It has underperformed by 22.74% the S&P500.

Equity Residential (NYSE:EQR) Ratings Coverage

Out of 18 analysts covering Equity Residential (NYSE:EQR), 4 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 22% are positive. $91 is the highest target while $62 is the lowest. The $76.46 average target is 27.48% above today’s ($59.98) stock price. Equity Residential has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Argus Research on Monday, November 23. BTIG Research initiated the shares of EQR in a report on Thursday, August 25 with “Neutral” rating. The rating was initiated by SunTrust with “Neutral” on Tuesday, July 21. Deutsche Bank maintained Equity Residential (NYSE:EQR) rating on Monday, July 18. Deutsche Bank has “Hold” rating and $74 price target. As per Monday, February 8, the company rating was maintained by RBC Capital Markets. The firm has “Hold” rating given on Tuesday, October 27 by Sandler O’Neill. Deutsche Bank maintained Equity Residential (NYSE:EQR) rating on Wednesday, August 10. Deutsche Bank has “Hold” rating and $70 price target. Mizuho maintained Equity Residential (NYSE:EQR) rating on Tuesday, October 27. Mizuho has “Buy” rating and $91 price target. The firm has “Equal Weight” rating given on Wednesday, August 5 by Barclays Capital. The rating was initiated by BB&T Capital on Tuesday, November 10 with “Hold”.

According to Zacks Investment Research, “Equity Residential Prop. is a self-administered and self-managed equity real estate investment trust. The company’s subsidiaries include the Operating Partnership, a series of management limited partnerships and companies, the Financing Partnerships, the limited liability companies, and certain other entities.”

Insitutional Activity: The institutional sentiment increased to 1.14 in 2016 Q2. Its up 0.22, from 0.92 in 2016Q1. The ratio improved, as 41 funds sold all Equity Residential shares owned while 154 reduced positions. 61 funds bought stakes while 161 increased positions. They now own 338.61 million shares or 5.37% less from 357.82 million shares in 2016Q1.
Asset Mngmt Incorporated last reported 1,700 shares in the company. Johnson Financial accumulated 0.01% or 586 shares. Amer National Registered Inv Advisor owns 11,400 shares or 0.36% of their US portfolio. Nj State Employees Deferred Compensation Plan accumulated 0.22% or 15,000 shares. Meeder Asset holds 0.07% or 11,313 shares in its portfolio. Fred Alger Management Inc has 56 shares for 0% of their US portfolio. Acadian Asset Ltd last reported 146 shares in the company. Meiji Yasuda Asset Limited has 32,872 shares for 0.32% of their US portfolio. Lombard Odier Asset Mngmt (Europe) accumulated 0.02% or 5,848 shares. Moreover, Piedmont Inv Advsr Ltd Llc has 0% invested in Equity Residential (NYSE:EQR) for 80,876 shares. Mitsubishi Ufj Tru & Banking has 777,514 shares for 0.12% of their US portfolio. The Colorado-based Employees Retirement Association Of Colorado has invested 0.05% in Equity Residential (NYSE:EQR). Blackrock Institutional Tru Company Na reported 14.01M shares or 0.16% of all its holdings. Voya Inv Management Limited Liability last reported 0.03% of its portfolio in the stock. Wendell David Assocs has 10,720 shares for 0.15% of their US portfolio.

More notable recent Equity Residential (NYSE:EQR) news were published by: Therealdeal.com which released: “Equity Residential offers dour look for the rest of 2016” on October 26, 2016, also Chicagobusiness.com with their article: “Why Sam Zell’s apartment REIT could be a takeover target—and why it matters” published on October 22, 2016, Nasdaq.com published: “Will Equity Residential (EQR) Earnings Disappoint in Q3?” on October 21, 2016. More interesting news about Equity Residential (NYSE:EQR) were released by: Bloomberg.com and their article: “Manhattan Trump Place Tenants Push for Building Name Change” published on October 25, 2016 as well as Seekingalpha.com‘s news article titled: “AvalonBay, Equity Residential, And UDR: The Coasts Are Still A Negative Sign” with publication date: November 01, 2016.

EQR Company Profile

Equity Residential, incorporated on July 21, 1992, is a real estate investment trust. The Firm is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s divisions include Boston, New York, San Francisco, Seattle, Southern California, Washington D.C., Non-core – South Florida, Non-core – Denver, and Non-core – other. ERP Operating Limited Partnership (Operating Partnership) conducts the multifamily residential property business of the Company. The Company’s property ownership, development and related business are conducted through the Operating Partnership. The Firm holds interests in approximately 390 properties located in over 10 states and the District of Columbia, consisting of approximately 109,650 apartment units.

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