Wealthfront Advisers LLC Has $9.08 Million Stake in Equity Residential (NYSE:EQR)

Wealthfront Advisers LLC grew its holdings in Equity Residential (NYSE:EQR) by 367.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 126,567 shares of the real estate investment trust’s stock after acquiring an additional 99,514 shares during the period. Wealthfront Advisers LLC’s holdings in Equity Residential were worth $9,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Inspire Advisors LLC lifted its holdings in Equity Residential by 7.0% during the 4th quarter. Inspire Advisors LLC now owns 8,194 shares of the real estate investment trust’s stock worth $588,000 after purchasing an additional 537 shares during the last quarter. Davis R M Inc. acquired a new stake in Equity Residential during the 4th quarter worth approximately $205,000. Daiwa Securities Group Inc. increased its stake in Equity Residential by 1.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 161,777 shares of the real estate investment trust’s stock worth $11,609,000 after acquiring an additional 2,242 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Equity Residential by 119.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust’s stock worth $34,714,000 after acquiring an additional 263,622 shares during the period. Finally, Sound View Wealth Advisors Group LLC bought a new position in Equity Residential during the 4th quarter worth $273,000. 92.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $72.06, for a total transaction of $46,262.52. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Garechana sold 4,294 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 $309,425.64. Following the completion of the sale, the chief financial officer now directly owns 14,108 shares of the company’s stock, valued at approximately $1,016,622.48. This trade represents a 23.33 % decrease in their position. 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 insiders.

Equity Residential Trading Down 1.2 %

Shares of Equity Residential stock opened at $68.97 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. The firm has a market cap of $26.19 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.99 and a beta of 0.91. Equity Residential has a twelve month low of $59.48 and a twelve month high of $78.84. The business has a 50-day moving average price of $70.64 and a 200-day moving average price of $72.87.

Analyst Ratings Changes

A number of equities analysts have commented on the company. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Stifel Nicolaus set a $82.25 price objective on Equity Residential in a research report on Tuesday, February 4th. Evercore ISI boosted their price objective on Equity Residential from $74.00 to $76.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Barclays cut their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, Scotiabank boosted their price objective on Equity Residential from $78.00 to $79.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $78.51.

Equity Residential 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.