Sienna Gestion Invests $9.24 Million in Equity Residential (NYSE:EQR)

Sienna Gestion acquired a new position in shares of Equity Residential (NYSE:EQR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 128,784 shares of the real estate investment trust’s stock, valued at approximately $9,240,000.

Other institutional investors have also recently bought and sold shares of the company. PGGM Investments lifted its holdings in Equity Residential by 13.7% during the fourth quarter. PGGM Investments now owns 12,208 shares of the real estate investment trust’s stock worth $876,000 after acquiring an additional 1,472 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Equity Residential by 0.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 142,274 shares of the real estate investment trust’s stock worth $10,124,000 after buying an additional 900 shares during the period. Achmea Investment Management B.V. lifted its stake in Equity Residential by 20.9% in the fourth quarter. Achmea Investment Management B.V. now owns 73,670 shares of the real estate investment trust’s stock valued at $5,286,000 after buying an additional 12,754 shares in the last quarter. Vestcor Inc boosted its stake in Equity Residential by 2.9% in the 4th quarter. Vestcor Inc now owns 116,042 shares of the real estate investment trust’s stock worth $8,327,000 after purchasing an additional 3,224 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Equity Residential by 1.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 25,842 shares of the real estate investment trust’s stock valued at $1,854,000 after purchasing an additional 349 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Wall Street Analyst Weigh In

EQR has been the topic of a number of recent research reports. Barclays lowered their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a research report on Tuesday, February 4th. Evercore ISI lifted their target price on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on 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. Finally, Truist Financial boosted their price target on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Equity Residential has a consensus rating of “Hold” and a consensus price target of $78.51.

Insider Activity at Equity Residential

In related news, COO Michael L. Manelis sold 9,487 shares of the firm’s 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 sale, the chief operating officer now directly owns 26,781 shares of the company’s stock, valued at $1,930,106.67. This trade represents a 26.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the transaction, the chief accounting officer now directly owns 25,539 shares of the company’s stock, valued at approximately $1,840,340.34. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,763 shares of company stock worth $1,424,217. Company insiders own 1.00% of the company’s stock.

Equity Residential Stock Down 1.1 %

Shares of EQR opened at $68.20 on Friday. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84. The firm’s 50 day moving average is $70.60 and its 200-day moving average is $72.84. The stock has a market capitalization of $25.90 billion, a PE ratio of 25.08, a P/E/G ratio of 3.99 and a beta of 0.91. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72.

Equity Residential Profile

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.