Victory Capital Management Inc. Lowers Stock Position in Equity Residential (NYSE:EQR)

Victory Capital Management Inc. lessened its holdings in Equity Residential (NYSE:EQR) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,521 shares of the real estate investment trust’s stock after selling 12,604 shares during the quarter. Victory Capital Management Inc.’s holdings in Equity Residential were worth $8,362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Keybank National Association OH boosted its holdings in Equity Residential by 2.0% in the 4th quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust’s stock valued at $502,000 after purchasing an additional 139 shares in the last quarter. Nicola Wealth Management LTD. boosted its holdings in Equity Residential by 59.2% in the 4th quarter. Nicola Wealth Management LTD. now owns 25,198 shares of the real estate investment trust’s stock valued at $1,808,000 after purchasing an additional 9,370 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Equity Residential by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,069,328 shares of the real estate investment trust’s stock worth $292,015,000 after acquiring an additional 60,987 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Equity Residential by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 99,625 shares of the real estate investment trust’s stock worth $7,149,000 after acquiring an additional 700 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Equity Residential by 109.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 551 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Trading Up 1.0 %

Shares of EQR opened at $68.93 on Friday. The company has a market capitalization 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 quick ratio of 0.36 and a current ratio of 0.36. The stock has a fifty day moving average of $70.56 and a two-hundred day moving average of $72.81. Equity Residential has a fifty-two week low of $59.48 and a fifty-two week high of $78.84.

Insider Transactions at Equity Residential

In other news, EVP Scott Fenster sold 5,340 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total transaction of $384,800.40. Following the completion of the sale, the executive vice president now directly owns 35,507 shares in the company, valued at $2,558,634.42. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the chief operating officer now owns 26,781 shares of the company’s stock, valued at approximately $1,930,106.67. The trade was a 26.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,763 shares of company stock worth $1,424,217 in the last ninety days. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

EQR has been the topic of several research analyst reports. Scotiabank boosted their price target on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Stifel Nicolaus set a $82.25 price target on Equity Residential in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their price target 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. Barclays decreased their price target on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, StockNews.com raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.