First Eagle Investment Management LLC Sells 26,149 Shares of Equity Residential (NYSE:EQR)

First Eagle Investment Management LLC reduced its holdings in Equity Residential (NYSE:EQR - Free Report) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,246,832 shares of the real estate investment trust's stock after selling 26,149 shares during the quarter. Equity Residential makes up approximately 1.5% of First Eagle Investment Management LLC's holdings, making the stock its 27th largest holding. First Eagle Investment Management LLC owned about 2.44% of Equity Residential worth $663,553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vert Asset Management LLC boosted its holdings in shares of Equity Residential by 7.5% in the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust's stock worth $10,782,000 after acquiring an additional 10,472 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Equity Residential during the 3rd quarter worth $923,000. Atomi Financial Group Inc. lifted 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 worth $266,000 after buying an additional 284 shares in the last quarter. Mission Wealth Management LP acquired a new position in Equity Residential during the 4th quarter worth $321,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted 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 worth $34,714,000 after buying an additional 263,622 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays reduced their price objective on Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. StockNews.com raised Equity Residential from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Scotiabank upped their price objective on Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a report on Friday, February 14th. Evercore ISI upped their price objective on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Finally, Mizuho dropped their target price on shares of Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $78.51.

Equity Residential Trading Down 0.9 %

Shares of EQR traded down $0.60 during trading hours on Tuesday, reaching $69.46. The stock had a trading volume of 1,553,245 shares, compared to its average volume of 1,584,180. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84. The firm has a 50-day moving average of $70.60 and a 200 day moving average of $72.77. The company has a market cap of $26.38 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.99 and a beta of 0.91.

Insider Activity at Equity Residential

In related news, COO Michael L. Manelis sold 9,487 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total value of $683,728.09. Following the completion of the sale, the chief operating officer now owns 26,781 shares in the company, valued at $1,930,106.67. This represents a 26.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Fenster sold 5,340 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $384,800.40. Following the transaction, the executive vice president now owns 35,507 shares of the company's stock, valued at approximately $2,558,634.42. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,763 shares of company stock worth $1,424,217 in the last quarter. Corporate insiders own 1.00% of the company's stock.

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.