Equity Residential (NYSE:EQR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Equity Residential (NYSE:EQR) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Candriam S.C.A. increased its stake in shares of Equity Residential by 10.2% during the 4th quarter. Candriam S.C.A. now owns 118,708 shares of the real estate investment trust’s stock valued at $8,518,000 after acquiring an additional 11,034 shares during the last quarter. Carmel Capital Partners LLC increased its stake in shares of Equity Residential by 4.7% during the 4th quarter. Carmel Capital Partners LLC now owns 6,627 shares of the real estate investment trust’s stock valued at $476,000 after acquiring an additional 298 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Equity Residential during the 4th quarter valued at about $13,921,000. Arizona State Retirement System increased its stake in shares of Equity Residential by 1.4% during the 4th quarter. Arizona State Retirement System now owns 99,109 shares of the real estate investment trust’s stock valued at $7,112,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Equity Residential during the 4th quarter valued at about $5,778,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Stock Down 1.1 %

NYSE EQR opened at $68.20 on Friday. The stock has a market cap of $25.90 billion, a PE ratio of 25.08, a P/E/G ratio of 3.99 and a beta of 0.91. Equity Residential has a fifty-two week low of $59.48 and a fifty-two week high of $78.84. The business has a 50 day moving average price of $70.60 and a two-hundred day moving average price of $72.84. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays dropped their price objective 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. Evercore ISI boosted their target price on Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Mizuho decreased their target price on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Scotiabank boosted their target price on Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Finally, Truist Financial boosted their target price on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.51.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, CAO Ian Kaufman sold 642 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the transaction, the chief accounting officer now directly owns 25,539 shares of the company’s stock, valued at $1,840,340.34. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott Fenster sold 5,340 shares of the company’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 value of $384,800.40. Following the completion of the transaction, the executive vice president now directly owns 35,507 shares in the company, valued at approximately $2,558,634.42. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,763 shares of company stock valued at $1,424,217 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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.