Picton Mahoney Asset Management Grows Stake in Equity Residential (NYSE:EQR)

Picton Mahoney Asset Management increased its holdings in Equity Residential (NYSE:EQR) by 43.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,562 shares of the real estate investment trust’s stock after buying an additional 1,994 shares during the period. Picton Mahoney Asset Management’s holdings in Equity Residential were worth $471,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its position in shares of Equity Residential by 607.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock valued at $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 third quarter valued at approximately $29,000. Brooklyn Investment Group bought a new stake in Equity Residential during the third quarter valued at approximately $33,000. Assetmark Inc. grew its stake in Equity Residential by 2,529.4% in the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 430 shares in the last quarter. Finally, Continuum Advisory LLC bought a new position in shares of Equity Residential in the 3rd quarter worth $40,000. Institutional investors own 92.68% of the company’s stock.

Equity Residential Price Performance

EQR opened at $68.93 on Monday. 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 stock has a market capitalization of $26.17 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The stock’s 50 day moving average price is $70.56 and its 200-day moving average price is $72.80. Equity Residential has a 52-week low of $59.48 and a 52-week high of $78.84.

Analyst Ratings Changes

EQR has been the subject of a number of research analyst reports. StockNews.com raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Mizuho cut their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Evercore ISI upped their target price 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. Finally, Scotiabank lifted their price target on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $78.51.

Insider Activity

In other Equity Residential news, EVP Scott Fenster sold 5,340 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were 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 approximately $2,558,634.42. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael L. Manelis sold 9,487 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.07, for a total transaction of $683,728.09. Following the transaction, the chief operating officer now directly owns 26,781 shares of the company’s stock, valued at $1,930,106.67. This represents a 26.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,763 shares of company stock valued at $1,424,217. Corporate insiders own 1.00% of the company’s stock.

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.