PNC Financial Services Group Inc. lowered its stake in shares of Equity Residential (NYSE:EQR - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,772 shares of the real estate investment trust's stock after selling 10,515 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Equity Residential were worth $3,572,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Equity Residential by 1.4% in the third quarter. State Street Corp now owns 23,922,127 shares of the real estate investment trust's stock valued at $1,796,976,000 after buying an additional 321,002 shares during the period. Geode Capital Management LLC boosted its position in shares of Equity Residential by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust's stock valued at $694,441,000 after acquiring an additional 132,638 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Equity Residential by 2.0% in the 4th quarter. Principal Financial Group Inc. now owns 7,897,863 shares of the real estate investment trust's stock worth $566,749,000 after buying an additional 152,248 shares during the last quarter. FMR LLC raised its position in Equity Residential by 29.0% during the third quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust's stock valued at $576,804,000 after purchasing an additional 1,741,840 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Equity Residential by 806.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust's stock worth $317,136,000 after purchasing an additional 3,789,234 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company's stock.
In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the company's stock in a transaction on 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 $1,930,106.67. This represents a 26.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott Fenster sold 5,340 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $384,800.40. Following the sale, the executive vice president now directly owns 35,507 shares of the company's stock, valued at $2,558,634.42. This represents a 13.07 % 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 valued at $1,424,217. 1.00% of the stock is currently owned by insiders.
EQR has been the topic of several research reports. Scotiabank lifted their price target on shares of Equity Residential from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research note on Friday, February 14th. Evercore ISI raised 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. Wells Fargo & Company reduced their target price on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Barclays decreased their target price on shares of Equity Residential from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Finally, StockNews.com raised shares of Equity Residential from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Equity Residential currently has an average rating of "Hold" and an average target price of $78.51.
View Our Latest Research Report on EQR
Shares of EQR traded up $0.65 during midday trading on Friday, hitting $68.93. The stock had a trading volume of 2,577,179 shares, compared to its average volume of 1,592,790. The stock's 50 day moving average is $70.60 and its 200 day moving average is $72.84. The firm has a market cap of $26.17 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. Equity Residential has a 1 year low of $59.48 and a 1 year high of $78.84.
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.
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