80,515 Shares in Equity Residential (NYSE:EQR) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in Equity Residential (NYSE:EQR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 80,515 shares of the real estate investment trust's stock, valued at approximately $5,778,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in Equity Residential by 1,642.1% in the fourth quarter. Assetmark Inc. now owns 7,787 shares of the real estate investment trust's stock worth $559,000 after purchasing an additional 7,340 shares during the period. Keybank National Association OH grew its position in shares of Equity Residential by 2.0% during the 4th quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after buying an additional 139 shares during the period. Nicola Wealth Management LTD. grew its position in shares of Equity Residential by 59.2% during the 4th quarter. Nicola Wealth Management LTD. now owns 25,198 shares of the real estate investment trust's stock worth $1,808,000 after buying an additional 9,370 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Equity Residential by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,069,328 shares of the real estate investment trust's stock worth $292,015,000 after buying an additional 60,987 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of Equity Residential by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 99,625 shares of the real estate investment trust's stock worth $7,149,000 after buying an additional 700 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EQR shares. StockNews.com upgraded Equity Residential from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Barclays decreased their target price on Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Evercore ISI boosted their target price on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Mizuho decreased their price objective on Equity Residential from $78.00 to $74.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Finally, Truist Financial boosted their price objective 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 investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $78.51.

Insider Buying and Selling at Equity Residential

In other news, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the sale, the chief operating officer now directly owns 26,781 shares of the company's stock, valued at approximately $1,930,106.67. This represents a 26.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the sale, the chief accounting officer now directly owns 25,539 shares in the company, valued at approximately $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 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Equity Residential Stock Performance

EQR traded up $1.14 during trading hours on Monday, reaching $70.08. The company's stock had a trading volume of 1,600,680 shares, compared to its average volume of 1,578,310. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84. The company's 50-day moving average is $70.56 and its 200-day moving average is $72.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $26.61 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91.

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.