After this afternoon's 1.2% surge to $63.1 per share, Equity Residential might just keep moving past its target price of $65.95. With an average analyst rating of hold, and target prices from $61.0 to $73.0, the stock's next move is anyone's guess.
The stock has a very low short interest at 1.8%, and a short ratio of 2.21. The company's insiders own 1.8% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 95.2% of Equity Residential's shares being owned by this investor type.
Institutions Invested in Equity Residential
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Vanguard Group Inc | 15% | 56,940,137 | $3,592,922,557 |
| 2023-12-31 | Blackrock Inc. | 11% | 41,535,847 | $2,620,911,882 |
| 2023-12-31 | Norges Bank Investment Management | 9% | 35,045,588 | $2,211,376,549 |
| 2023-12-31 | State Street Corporation | 7% | 25,179,988 | $1,588,857,204 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 5% | 19,886,439 | $1,254,834,270 |
| 2023-12-31 | Apg Asset Management US Inc. | 3% | 11,598,251 | $731,849,620 |
| 2023-12-31 | First Eagle Investment Management, LLC | 2% | 9,325,268 | $588,424,396 |
| 2023-12-31 | JP Morgan Chase & Company | 2% | 9,262,762 | $584,480,268 |
| 2023-12-31 | Geode Capital Management, LLC | 2% | 8,385,008 | $529,093,992 |
| 2023-12-31 | Legal & General Group PLC | 2% | 6,185,220 | $390,287,372 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Equity Residential.
