First Eagle Investment Management LLC Decreases Stock Position in Equity Residential (NYSE:EQR)

by · The Markets Daily

First Eagle Investment Management LLC reduced its position in Equity Residential (NYSE:EQR – Free Report) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,246,832 shares of the real estate investment trust’s stock after selling 26,149 shares during the period. Equity Residential comprises approximately 1.5% of First Eagle Investment Management LLC’s holdings, making the stock its 27th largest position. First Eagle Investment Management LLC owned approximately 2.44% of Equity Residential worth $663,553,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vert Asset Management LLC raised its holdings in Equity Residential by 7.5% in the 4th quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust’s stock worth $10,782,000 after acquiring an additional 10,472 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in Equity Residential in the 3rd quarter worth approximately $923,000. Atomi Financial Group Inc. raised its holdings in Equity Residential by 8.3% in the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 284 shares during the last quarter. Tidal Investments LLC raised its holdings in Equity Residential by 12.3% in the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock worth $9,625,000 after acquiring an additional 14,109 shares during the last quarter. Finally, Mission Wealth Management LP purchased a new stake in Equity Residential during the 4th quarter valued at $321,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus set a $82.25 target price on shares of Equity Residential in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Truist Financial upped their price objective on Equity Residential from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho reduced their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Evercore ISI upped their price objective on Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Eleven 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $78.51.

Check Out Our Latest Stock Report on EQR

Insider Transactions at Equity Residential

In other news, EVP Scott Fenster sold 5,340 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $384,800.40. Following the transaction, the executive vice president now directly owns 35,507 shares in the company, valued at approximately $2,558,634.42. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ian Kaufman sold 642 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the transaction, the chief accounting officer now owns 25,539 shares in the company, valued at approximately $1,840,340.34. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,763 shares of company stock valued at $1,424,217. 1.00% of the stock is currently owned by company insiders.

Equity Residential Stock Performance

Shares of NYSE:EQR opened at $68.20 on Friday. The firm has a market cap of $25.90 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The firm’s 50 day simple moving average is $70.60 and its 200-day simple moving average is $72.84. Equity Residential has a one year low of $59.48 and a one year high of $78.84. 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 Company Profile

(Free Report)

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.

Further Reading

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