HighTower Advisors LLC recently revealed that it increased its holdings in Equity Residential by a significant 66.6%. This decision came after purchasing an additional 10,306 shares in the real estate investment trust’s stock during the fourth quarter. Currently, HighTower Advisors LLC has a whopping 25,786 shares of Equity Residential under ownership which are worth approximately $1,512,000 as per the firm’s latest Securities & Exchange Commission filing.
Despite this strong move by HighTower Advisors LLC, some equity research analysts have suggested to investors to hold their horses on buying more EQR stocks. Mizuho reduced their previously predicted price target from $72.00 to $68.00 in a report released on May 19th earlier this year. StockNews.com also issued a “hold” rating while Citigroup lifted their price objective from $68.00 to $70.00 but still gave the stock a “neutral” rating in February and March of this year respectively.
This information helps readers understand that despite some pessimism towards the performance of Equitable Residential by experts, stocks continue to remain popular with multiple players indicating that EQR is definitely worth holding onto at present times.
In fact, the company announced just recently a substantial announcement in terms of dividends last month which was paid out on April 14th – definitely an incentive for those who invested or intend to invest in EQR stocks long-term!
Hedge Funds and Institutional Investors Increase Holdings in Equity Residential as Stock Valuations Fluctuate
Equity Residential, the US-based real estate investment trust, saw a number of hedge funds and institutional investors significantly increase their holdings in the company in recent months. EverSource Wealth Advisors raised its stake by 290.5% during Q3 2020 to a current total of 410 shares; CVA Family Office lifted its holding by 84% to 690 shares; Hollencrest Capital Management acquired an entirely new stake worth $25,000 during Q4 2020; Boyd Watterson Asset Management also bought a new stake in the company worth $35,000. Earlier this week, Director Mark S Shapiro sold over 42,400shares of Equity Residential for $61.91 each. The REIT currently trading at $59.47 per share boasts a market capitalization figure of $22.53bn whilst having an earnings ratio of 24.47 and quick and current ratios of both equaling 0.69 . Equity Residential has seen stock valuations fluctuate since hitting lows of just below $55 in February this year before rebounding to approximately near $81 highs early this month.
Discussion about this post