Insider Selling: Equity Residential (NYSE:EQR) COO Sells $97,405.77 in Stock

Equity Residential (NYSE:EQRGet Free Report) COO Michael L. Manelis sold 1,639 shares of Equity Residential stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.43, for a total value of $97,405.77. Following the transaction, the chief operating officer now owns 31,053 shares in the company, valued at approximately $1,845,479.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Equity Residential Trading Down 0.6 %

Shares of NYSE EQR opened at $58.82 on Thursday. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 3.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.18 and a current ratio of 0.30. The business has a 50 day simple moving average of $60.29 and a 200 day simple moving average of $60.44. Equity Residential has a 52 week low of $52.57 and a 52 week high of $69.45.

Equity Residential (NYSE:EQRGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.18). Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. The business had revenue of $727.50 million for the quarter, compared to analyst estimates of $725.07 million. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Equity Residential will post 3.85 earnings per share for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were paid a $0.6625 dividend. The ex-dividend date was Friday, December 29th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.51%. Equity Residential’s payout ratio is 120.45%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EQR. Bruce G. Allen Investments LLC acquired a new position in Equity Residential in the fourth quarter valued at about $28,000. Financial Gravity Asset Management Inc. increased its holdings in shares of Equity Residential by 593.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 392 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 267 shares during the last quarter. Money Concepts Capital Corp acquired a new position in Equity Residential in the 4th quarter valued at $29,000. Finally, First Horizon Advisors Inc. grew its holdings in Equity Residential by 229.8% in the 1st quarter. First Horizon Advisors Inc. now owns 554 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 386 shares in the last quarter. 84.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQR. Mizuho lifted their price objective on Equity Residential from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Stifel Nicolaus decreased their price objective on Equity Residential from $60.00 to $59.50 and set a “hold” rating for the company in a research note on Friday, November 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Equity Residential in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Piper Sandler lowered their target price on shares of Equity Residential from $71.00 to $57.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Finally, Royal Bank of Canada increased their target price on shares of Equity Residential from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.18.

View Our Latest Analysis on EQR

Equity Residential Company Profile

(Get Free Report)

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.

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