EverSource Wealth Advisors LLC Sells 626 Shares of Equity Residential (NYSE:EQR)

EverSource Wealth Advisors LLC lessened its holdings in Equity Residential (NYSE:EQR) by 40.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 933 shares of the real estate investment trust’s stock after selling 626 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Equity Residential were worth $67,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EQR. SRS Capital Advisors Inc. lifted its stake in Equity Residential by 607.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Equity Residential in the third quarter valued at $29,000. Assetmark Inc. lifted its stake in Equity Residential by 2,529.4% in the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 430 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Equity Residential in the third quarter valued at $33,000. Finally, Continuum Advisory LLC acquired a new stake in Equity Residential in the third quarter valued at $40,000. Institutional investors own 92.68% of the company’s stock.

Insiders Place Their Bets

In other Equity Residential news, CFO Robert Garechana sold 4,294 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $309,425.64. Following the sale, the chief financial officer now directly owns 14,108 shares in the company, valued at $1,016,622.48. This represents a 23.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Ian Kaufman sold 642 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 transaction of $46,262.52. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,763 shares of company stock worth $1,424,217 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Equity Residential Price Performance

NYSE:EQR opened at $69.79 on Thursday. The firm has a market cap of $26.50 billion, a price-to-earnings ratio of 25.66, a P/E/G 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. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84. The firm’s 50-day simple moving average is $70.68 and its 200 day simple moving average is $72.71.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQR. Barclays cut their price target 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. Stifel Nicolaus set a $82.25 price target on shares of Equity Residential in a research note on Tuesday, February 4th. Mizuho cut 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 note on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Finally, Evercore ISI increased their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Ten equities 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, Equity Residential has an average rating of “Hold” and an average 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.