Wealthfront Advisers LLC Has $9.08 Million Position in Equity Residential (NYSE:EQR)

Wealthfront Advisers LLC boosted its holdings in Equity Residential (NYSE:EQR) by 367.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,567 shares of the real estate investment trust’s stock after buying an additional 99,514 shares during the period. Wealthfront Advisers LLC’s holdings in Equity Residential were worth $9,082,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Keybank National Association OH increased its position 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 worth $502,000 after buying an additional 139 shares during the period. AdvisorNet Financial Inc increased its position in Equity Residential by 25.3% in the 4th quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 146 shares during the period. Smartleaf Asset Management LLC increased its position in Equity Residential by 38.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 558 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 156 shares during the period. Smithfield Trust Co increased its position in Equity Residential by 20.9% in the 3rd quarter. Smithfield Trust Co now owns 1,209 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 209 shares during the period. Finally, US Bancorp DE increased its position in Equity Residential by 0.7% in the 4th quarter. US Bancorp DE now owns 31,433 shares of the real estate investment trust’s stock worth $2,256,000 after buying an additional 219 shares during the period. 92.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Equity Residential news, COO Michael L. Manelis sold 9,487 shares of the stock in a transaction dated 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 approximately $1,930,106.67. This represents a 26.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the 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 completion of the sale, the executive vice president now owns 35,507 shares of the company’s stock, valued at $2,558,634.42. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EQR has been the topic of a number of research reports. Barclays lowered their price objective on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Truist Financial boosted their price objective on Equity Residential from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus set a $82.25 price objective on Equity Residential in a research report on Tuesday, February 4th. Mizuho lowered their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI boosted their price objective on Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Eleven equities research 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 company presently has an average rating of “Hold” and an average price target of $78.51.

Equity Residential Price Performance

Equity Residential stock 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. The firm has a market cap of $26.19 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.99 and a beta of 0.91. The business’s fifty day moving average is $70.64 and its two-hundred day moving average is $72.87. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84.

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.