Victory Capital Management Inc. Trims Stock Holdings in Equity Residential (NYSE:EQR)

Victory Capital Management Inc. cut its holdings in shares of Equity Residential (NYSE:EQR - Free Report) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,521 shares of the real estate investment trust's stock after selling 12,604 shares during the period. Victory Capital Management Inc.'s holdings in Equity Residential were worth $8,362,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Keybank National Association OH grew its stake in Equity Residential by 2.0% in the fourth quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after purchasing an additional 139 shares during the period. AdvisorNet Financial Inc grew its stake in Equity Residential by 25.3% in the fourth quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 146 shares during the period. Smartleaf Asset Management LLC grew its stake in Equity Residential by 38.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 156 shares during the period. Smithfield Trust Co grew its stake in Equity Residential by 20.9% in the third quarter. Smithfield Trust Co now owns 1,209 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 209 shares during the period. Finally, US Bancorp DE grew its stake in Equity Residential by 0.7% in the fourth quarter. US Bancorp DE now owns 31,433 shares of the real estate investment trust's stock worth $2,256,000 after purchasing an additional 219 shares during the period. 92.68% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Equity Residential Stock Performance

Shares of NYSE:EQR traded down $0.60 during midday trading on Tuesday, reaching $69.46. 1,460,645 shares of the company's stock traded hands, compared to its average volume of 1,583,811. The company has a market cap of $26.38 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 3.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 0.36. Equity Residential has a one year low of $59.48 and a one year high of $78.84. The stock has a 50 day moving average of $70.60 and a 200 day moving average of $72.77.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EQR. Evercore ISI upped their price target on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. 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, March 10th. Mizuho cut their target price on Equity Residential from $78.00 to $74.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company cut their target price on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Friday, January 24th. Finally, Barclays cut their target price on Equity Residential from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $78.51.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the transaction, the chief operating officer now owns 26,781 shares of the company's stock, valued at approximately $1,930,106.67. This represents a 26.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $384,800.40. Following the completion of the transaction, the executive vice president now directly owns 35,507 shares in the company, valued at approximately $2,558,634.42. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is owned by company insiders.

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.