This afternoon we watched Equity Residential drop -1.8% to a price of $61.69 per share. The Large-Cap Specialty Real Estate Investment Trust company is now trading -6.07% below its average target price of $65.68. Analysts have set target prices ranging from $61.0 to $73.0 per share for Equity Residential, and have given the stock an average rating of hold.
The stock has an average amount of shares sold short at 2.0%, and a short ratio of 2.78. 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 | $3,512,636,973 |
| 2023-12-31 | Blackrock Inc. | 11% | 41,535,847 | $2,562,346,344 |
| 2023-12-31 | Norges Bank Investment Management | 9% | 35,045,588 | $2,161,962,275 |
| 2023-12-31 | State Street Corporation | 7% | 25,179,988 | $1,553,353,425 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 5% | 19,886,439 | $1,226,794,394 |
| 2023-12-31 | Apg Asset Management US Inc. | 3% | 11,598,251 | $715,496,088 |
| 2023-12-31 | First Eagle Investment Management, LLC | 2% | 9,325,268 | $575,275,770 |
| 2023-12-31 | JP Morgan Chase & Company | 2% | 9,262,762 | $571,419,775 |
| 2023-12-31 | Geode Capital Management, LLC | 2% | 8,385,008 | $517,271,132 |
| 2023-12-31 | Legal & General Group PLC | 2% | 6,185,220 | $381,566,213 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Equity Residential.
