Cibc World Markets Corp Increases Stake in Equity Residential (NYSE:EQR)

Cibc World Markets Corp raised its holdings in shares of Equity Residential (NYSE:EQR) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,229 shares of the real estate investment trust’s stock after acquiring an additional 16,770 shares during the quarter. Cibc World Markets Corp’s holdings in Equity Residential were worth $10,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in Equity Residential by 1.4% during the third quarter. State Street Corp now owns 23,922,127 shares of the real estate investment trust’s stock valued at $1,796,976,000 after purchasing an additional 321,002 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Equity Residential by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,353,944 shares of the real estate investment trust’s stock valued at $694,441,000 after buying an additional 132,638 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Equity Residential by 2.0% during the 4th quarter. Principal Financial Group Inc. now owns 7,897,863 shares of the real estate investment trust’s stock valued at $566,749,000 after acquiring an additional 152,248 shares during the period. FMR LLC increased its holdings in Equity Residential by 29.0% in the 3rd quarter. FMR LLC now owns 7,746,494 shares of the real estate investment trust’s stock worth $576,804,000 after acquiring an additional 1,741,840 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Equity Residential by 806.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,259,145 shares of the real estate investment trust’s stock worth $317,136,000 after acquiring an additional 3,789,234 shares during the period. Institutional investors own 92.68% of the company’s stock.

Equity Residential Stock Performance

Equity Residential stock opened at $69.46 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $26.38 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. Equity Residential has a 1-year low of $59.48 and a 1-year high of $78.84. The company’s 50-day moving average is $70.64 and its 200 day moving average is $72.73.

Insider Transactions at Equity Residential

In related news, CFO Robert Garechana sold 4,294 shares of the firm’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 $309,425.64. Following the transaction, the chief financial officer now owns 14,108 shares of the company’s stock, valued at $1,016,622.48. This trade represents a 23.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ian Kaufman sold 642 shares of Equity Residential 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,763 shares of company stock worth $1,424,217. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EQR shares. Stifel Nicolaus set a $82.25 price objective on shares of Equity Residential in a research report on Tuesday, February 4th. Barclays decreased their price target on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company dropped their price objective on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Scotiabank lifted their target price 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. Finally, Evercore ISI increased their price objective on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, February 10th. 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, Equity Residential currently has a consensus rating of “Hold” and a consensus price target of $78.51.

About Equity Residential

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.