Davis R M Inc. Takes $205,000 Position in Equity Residential (NYSE:EQR)

Davis R M Inc. bought a new stake in shares of Equity Residential (NYSE:EQR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,854 shares of the real estate investment trust’s stock, valued at approximately $205,000.

A number of other large investors have also recently modified their holdings of EQR. SRS Capital Advisors Inc. boosted its stake in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Equity Residential during the 3rd quarter valued at about $29,000. Assetmark Inc. boosted its stake in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Equity Residential during the 3rd quarter valued at about $33,000. Finally, Continuum Advisory LLC bought a new stake in shares of Equity Residential during the 3rd quarter valued at about $40,000. Institutional investors own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EQR shares. Evercore ISI lifted their target price on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Truist Financial lifted their price target on shares of Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday. Finally, Barclays lowered their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $78.51.

Equity Residential Stock Performance

Shares of EQR stock opened at $68.97 on Thursday. The firm has a market capitalization of $26.19 billion, a PE ratio of 25.35, a P/E/G ratio of 3.99 and a beta of 0.91. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $70.64 and a 200-day moving average price of $72.87. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84.

Insider Buying and Selling

In related news, CAO Ian Kaufman sold 642 shares of Equity Residential 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 completion of the sale, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at $1,840,340.34. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael L. Manelis sold 9,487 shares of Equity Residential 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 transaction, the chief operating officer now owns 26,781 shares in the company, valued at $1,930,106.67. This trade represents a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,763 shares of company stock valued at $1,424,217 over the last 90 days. Company 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.