American Assets Capital Advisers LLC Raises Stake in Equity Residential (NYSE:EQR)

American Assets Capital Advisers LLC raised its position in Equity Residential (NYSE:EQR) by 70.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,577 shares of the real estate investment trust’s stock after purchasing an additional 4,777 shares during the period. American Assets Capital Advisers LLC’s holdings in Equity Residential were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. increased its holdings 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 buying an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Equity Residential during the 3rd quarter worth about $29,000. Brooklyn Investment Group purchased a new position in shares of Equity Residential in the 3rd quarter valued at about $33,000. Assetmark Inc. raised its position in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 430 shares in the last quarter. Finally, Continuum Advisory LLC purchased a new stake in Equity Residential during the third quarter worth approximately $40,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Price Performance

Shares of EQR opened at $68.93 on Friday. The firm has a market capitalization of $26.17 billion, a PE ratio of 25.34, a P/E/G ratio of 3.99 and a beta of 0.91. The stock’s 50 day moving average is $70.56 and its two-hundred day moving average is $72.81. Equity Residential has a twelve month low of $59.48 and a twelve month high of $78.84. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.72.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EQR shares. Barclays cut their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Mizuho dropped their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Scotiabank raised 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. Finally, 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 note on Monday, March 10th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.51.

Insider Buying and Selling

In related news, EVP Scott Fenster sold 5,340 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 $384,800.40. Following the sale, the executive vice president now 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 legal filing with the SEC, which is available at this hyperlink. 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 value of $46,262.52. Following the completion of the transaction, the chief accounting officer now directly owns 25,539 shares of the company’s stock, 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 valued at $1,424,217 over the last quarter. Company 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.