Equity Residential (NYSE:EQR) Shares Sold by TAP Consulting LLC

TAP Consulting LLC trimmed its position in Equity Residential (NYSE:EQR) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,463 shares of the real estate investment trust’s stock after selling 512 shares during the quarter. TAP Consulting LLC’s holdings in Equity Residential were worth $4,052,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. lifted its position in shares of Equity Residential by 607.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Equity Residential in the 3rd quarter valued at about $29,000. Assetmark Inc. raised its holdings in Equity Residential by 2,529.4% during the third 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. Brooklyn Investment Group acquired a new position in Equity Residential in the third quarter valued at $33,000. Finally, Continuum Advisory LLC acquired a new position in Equity Residential during the third quarter worth approximately $40,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQR has been the topic of a number of research reports. Scotiabank raised their price target on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Mizuho lowered their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays lowered their price target on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Evercore ISI upped their target price on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company dropped their target price on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $78.51.

Equity Residential Stock Performance

Shares of EQR stock opened at $69.79 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The company’s fifty day moving average price is $70.68 and its two-hundred day moving average price is $72.71. The firm has a market capitalization of $26.50 billion, a P/E ratio of 25.66, a P/E/G ratio of 3.99 and a beta of 0.91. Equity Residential has a 12 month low of $59.48 and a 12 month high of $78.84.

Insider Buying and Selling

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.07, for a total value of $683,728.09. Following the completion of the transaction, the chief operating officer now owns 26,781 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 25,539 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is currently owned by corporate 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.