TAP Consulting LLC Reduces Holdings in Equity Residential (NYSE:EQR)

TAP Consulting LLC trimmed its position in Equity Residential (NYSE:EQR) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,463 shares of the real estate investment trust’s stock after selling 512 shares during the period. TAP Consulting LLC’s holdings in Equity Residential were worth $4,052,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SRS Capital Advisors Inc. raised its holdings in Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 310 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Equity Residential in the 3rd quarter worth approximately $29,000. Brooklyn Investment Group bought a new stake in shares of Equity Residential during the 3rd quarter valued at $33,000. Assetmark Inc. lifted its position in shares of 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 in the last quarter. Finally, Continuum Advisory LLC bought a new position in Equity Residential in the 3rd quarter worth approximately $40,000. 92.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Ian Kaufman sold 642 shares of the business’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 completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael L. Manelis sold 9,487 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total transaction of $683,728.09. Following the transaction, the chief operating officer now owns 26,781 shares of the company’s stock, valued at $1,930,106.67. This represents a 26.16 % 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 in the last ninety days. Insiders own 1.00% of the company’s stock.

Equity Residential Stock Up 0.4 %

Shares of EQR stock opened at $69.79 on Thursday. Equity Residential has a fifty-two week low of $59.48 and a fifty-two week high of $78.84. The stock’s 50-day simple moving average is $70.68 and its 200-day simple moving average is $72.71. 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 capitalization of $26.50 billion, a PE ratio of 25.66, a P/E/G ratio of 3.99 and a beta of 0.91.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQR. Evercore ISI raised 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. Barclays dropped 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. Truist Financial lifted their target price on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Scotiabank boosted their price target on Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a report on Friday, February 14th. Finally, Mizuho dropped their target price on shares of Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $78.51.

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.