Cibc World Markets Corp Purchases 16,770 Shares of Equity Residential (NYSE:EQR)

Cibc World Markets Corp lifted its position in Equity Residential (NYSE:EQR) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its position in 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 purchasing an additional 310 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Equity Residential during the third quarter valued at approximately $29,000. Assetmark Inc. increased its holdings in Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 430 shares during the period. Brooklyn Investment Group bought a new position in Equity Residential in the third quarter worth approximately $33,000. Finally, Continuum Advisory LLC purchased a new stake in Equity Residential during the third quarter worth $40,000. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Price Performance

Shares of NYSE EQR opened at $69.46 on Wednesday. Equity Residential has a 52 week low of $59.48 and a 52 week high of $78.84. The business’s 50 day moving average price is $70.64 and its 200 day moving average price is $72.73. 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 $26.38 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.99 and a beta of 0.91.

Insider Buying and Selling at Equity Residential

In other news, CAO Ian Kaufman sold 642 shares of the business’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Garechana sold 4,294 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the completion of the sale, the chief financial officer now owns 14,108 shares in the company, valued at $1,016,622.48. The trade was a 23.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,763 shares of company stock worth $1,424,217. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Mizuho cut their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Evercore ISI increased their price target on shares of Equity Residential from $74.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Scotiabank lifted their price objective on shares of Equity Residential from $78.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus set a $82.25 target price on shares of Equity Residential in a research report on Tuesday, February 4th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.