Proficio Capital Partners LLC Acquires Shares of 80,515 Equity Residential (NYSE:EQR)

Proficio Capital Partners LLC purchased 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 & Exchange Commission. The institutional investor purchased 80,515 shares of the real estate investment trust’s stock, valued at approximately $5,778,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vert Asset Management LLC boosted its stake in shares of Equity Residential by 7.5% in the fourth quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust’s stock valued at $10,782,000 after buying an additional 10,472 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in Equity Residential in the third quarter valued at $923,000. Atomi Financial Group Inc. boosted its position in shares of Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 284 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Equity Residential by 12.3% during the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock worth $9,625,000 after purchasing an additional 14,109 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Equity Residential by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,008,341 shares of the real estate investment trust’s stock valued at $298,461,000 after purchasing an additional 124,795 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Up 1.1 %

Shares of NYSE:EQR opened at $75.01 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72. The firm has a market cap of $28.48 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 3.99 and a beta of 0.93. The stock’s 50-day moving average price is $70.68 and its two-hundred day moving average price is $72.91. Equity Residential has a 12-month low of $59.48 and a 12-month high of $78.83.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were issued a $0.675 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a yield of 3.60%. Equity Residential’s payout ratio is 99.26%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Scotiabank lifted their price objective on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Evercore ISI upped their target price on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a 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, Stifel Nicolaus set a $82.25 price objective on shares of Equity Residential in a research note on Tuesday, February 4th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $78.46.

Insider Buying and Selling

In related news, CFO Robert Garechana sold 4,294 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $309,425.64. Following the completion of the sale, the chief financial officer now owns 14,108 shares of the company’s stock, valued at approximately $1,016,622.48. This represents a 23.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ian Kaufman sold 642 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the transaction, the chief accounting officer now owns 25,539 shares in the company, valued at $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 quarter, insiders sold 19,763 shares of company stock valued at $1,424,217. Insiders own 1.00% of the company’s stock.

Equity Residential Company 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.