Equity Residential (NYSE:EQR) Shares Acquired by Assetmark Inc.

Assetmark Inc. grew its position in Equity Residential (NYSE:EQR - Free Report) by 1,642.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,787 shares of the real estate investment trust's stock after purchasing an additional 7,340 shares during the quarter. Assetmark Inc.'s holdings in Equity Residential were worth $559,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of EQR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Equity Residential by 806.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust's stock worth $317,136,000 after purchasing an additional 3,789,234 shares during the period. FMR LLC raised its position in Equity Residential by 29.0% during the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock worth $576,804,000 after acquiring an additional 1,741,840 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equity Residential by 8.3% in the third quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust's stock worth $576,737,000 after acquiring an additional 591,866 shares during the last quarter. Heitman Real Estate Securities LLC raised its position in shares of Equity Residential by 2,193.2% in the third quarter. Heitman Real Estate Securities LLC now owns 416,647 shares of the real estate investment trust's stock valued at $31,024,000 after buying an additional 398,478 shares during the last quarter. Finally, KBC Group NV increased its stake in Equity Residential by 100.9% in the fourth quarter. KBC Group NV now owns 691,061 shares of the real estate investment trust's stock valued at $49,590,000 after purchasing an additional 347,085 shares during the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Equity Residential

In related news, CFO Robert Garechana sold 4,294 shares of Equity Residential stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $309,425.64. Following the completion of the transaction, the chief financial officer now directly owns 14,108 shares of the company's stock, valued at $1,016,622.48. This trade represents a 23.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael L. Manelis sold 9,487 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the completion of the transaction, the chief operating officer now directly owns 26,781 shares in the company, valued at approximately $1,930,106.67. This represents a 26.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is owned by insiders.

Equity Residential Stock Down 1.2 %

Equity Residential stock opened at $68.97 on Thursday. Equity Residential has a 1-year low of $59.48 and a 1-year high of $78.84. The company has a market capitalization of $26.19 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.99 and a beta of 0.91. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. The firm's fifty day simple moving average is $70.64 and its 200-day simple moving average is $72.87.

Analysts Set New Price Targets

Several equities research analysts have commented on EQR shares. Truist Financial upped their price target on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday. Barclays reduced their target price on Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Mizuho dropped their price target on Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Stifel Nicolaus set a $82.25 target price on shares of Equity Residential in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price target on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.51.

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About Equity Residential

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.

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