Cascade Financial Partners LLC Makes New Investment in Equity Residential (NYSE:EQR)

Cascade Financial Partners LLC purchased a new stake in Equity Residential (NYSE:EQR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,898 shares of the real estate investment trust’s stock, valued at approximately $208,000.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Equity Residential by 8.3% during the third quarter. Principal Financial Group Inc. now owns 7,745,615 shares of the real estate investment trust’s stock worth $576,737,000 after acquiring an additional 591,866 shares in the last quarter. Assetmark Inc. lifted its holdings in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 430 shares in the last quarter. Atria Investments Inc boosted its stake in Equity Residential by 28.8% in the 3rd quarter. Atria Investments Inc now owns 28,056 shares of the real estate investment trust’s stock worth $2,089,000 after purchasing an additional 6,280 shares during the period. Victory Capital Management Inc. grew its holdings in Equity Residential by 16.1% during the 3rd quarter. Victory Capital Management Inc. now owns 129,125 shares of the real estate investment trust’s stock valued at $9,615,000 after buying an additional 17,948 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Equity Residential by 337.4% during the third quarter. KBC Group NV now owns 343,976 shares of the real estate investment trust’s stock valued at $25,612,000 after buying an additional 265,334 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Trading Down 1.2 %

Shares of EQR opened at $68.97 on Thursday. 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 fifty-two week low of $59.48 and a fifty-two week high of $78.84. The firm has a 50 day moving average price of $70.64 and a 200-day moving average price of $72.87. The firm has a market cap of $26.19 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.99 and a beta of 0.91.

Insiders Place Their Bets

In other news, EVP Scott Fenster sold 5,340 shares of Equity Residential 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 in the company, valued at approximately $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ian Kaufman sold 642 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 $46,262.52. Following the sale, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This represents a 2.45 % 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 three months. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EQR shares. Scotiabank raised their price objective on shares of Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Truist Financial boosted 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. Evercore ISI increased their price objective 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. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Finally, Wells Fargo & Company decreased 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. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $78.51.

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.