Capital Management Associates NY Decreases Stake in Equity Residential (NYSE:EQR)

Capital Management Associates NY trimmed its position in shares of Equity Residential (NYSE:EQR - Free Report) by 57.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,000 shares of the real estate investment trust's stock after selling 4,000 shares during the quarter. Capital Management Associates NY's holdings in Equity Residential were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vert Asset Management LLC boosted its holdings in Equity Residential by 7.5% during the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust's stock valued at $10,782,000 after acquiring an additional 10,472 shares during the period. Benjamin Edwards Inc. purchased a new position in Equity Residential during the 3rd quarter valued at about $923,000. Atomi Financial Group Inc. boosted its holdings in Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust's stock valued at $266,000 after acquiring an additional 284 shares during the period. Mission Wealth Management LP purchased a new position in Equity Residential during the 4th quarter valued at about $321,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Equity Residential by 119.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust's stock valued at $34,714,000 after acquiring an additional 263,622 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Equity Residential news, CFO Robert Garechana sold 4,294 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the transaction, the chief financial officer now directly owns 14,108 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of Equity Residential stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,763 shares of company stock valued at $1,424,217 over the last quarter. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on EQR. Wells Fargo & Company lowered their target price on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating for the company in a report on Friday, January 24th. Barclays reduced their price target on Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Mizuho reduced 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. StockNews.com raised Equity Residential from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Finally, Truist Financial increased their price target on Equity Residential from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Equity Residential has an average rating of "Hold" and an average target price of $78.51.

Equity Residential Stock Performance

EQR traded down $0.60 during trading on Tuesday, hitting $69.46. 1,553,245 shares of the stock were exchanged, compared to its average volume of 1,582,864. The firm has a market capitalization of $26.38 billion, a P/E ratio of 25.54, a PEG ratio of 3.99 and a beta of 0.91. Equity Residential has a 1-year low of $59.48 and a 1-year high of $78.84. The stock has a fifty day moving average price of $70.64 and a two-hundred day moving average price of $72.73. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72.

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.