Equity Residential (NYSE:EQR) EVP Bruce C. Strohm sold 1,686 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $67.23, for a total transaction of $113,349.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Equity Residential (NYSE EQR) traded down 0.60% on Tuesday, hitting $67.72. 623,958 shares of the company traded hands. Equity Residential has a 1-year low of $58.28 and a 1-year high of $71.53. The firm’s 50 day moving average price is $65.79 and its 200 day moving average price is $63.62. The firm has a market capitalization of $24.86 billion, a PE ratio of 29.44 and a beta of 0.34.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The business had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $605.69 million. Equity Residential had a return on equity of 7.46% and a net margin of 35.18%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. Equities research analysts predict that Equity Residential will post $1.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Monday, June 26th will be issued a dividend of $0.5038 per share. The ex-dividend date is Thursday, June 22nd. This represents a $2.02 annualized dividend and a dividend yield of 2.96%. Equity Residential’s dividend payout ratio (DPR) is 88.21%.
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EQR has been the topic of several recent research reports. Argus set a $75.00 price objective on shares of Equity Residential and gave the company a “buy” rating in a report on Thursday, April 27th. Bank of America Corporation raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday. TheStreet downgraded shares of Equity Residential from a “b” rating to a “c+” rating in a report on Wednesday, May 17th. Barclays PLC reissued an “equal weight” rating and issued a $64.00 price target (up from $62.00) on shares of Equity Residential in a report on Wednesday, April 19th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $63.00 price target on shares of Equity Residential in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $66.79.
Hedge funds have recently modified their holdings of the company. Crow Point Partners LLC purchased a new stake in shares of Equity Residential during the third quarter valued at about $106,000. Financial Architects Inc boosted its stake in shares of Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 94 shares during the period. Delta Asset Management LLC TN boosted its stake in shares of Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 57 shares during the period. Integrated Investment Consultants LLC purchased a new stake in shares of Equity Residential during the first quarter valued at about $129,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Equity Residential during the fourth quarter valued at about $187,000. 95.31% of the stock is currently owned by institutional investors and hedge funds.
About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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