Equity Residential (NYSE:EQR) Director Mark S. Shapiro sold 2,853 shares of Equity Residential stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $67.30, for a total transaction of $192,006.90. Following the sale, the director now owns 2,573 shares in the company, valued at approximately $173,162.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Equity Residential (NYSE:EQR) opened at 66.98 on Friday. The company has a 50 day moving average price of $66.58 and a 200-day moving average price of $64.51. Equity Residential has a 12-month low of $58.28 and a 12-month high of $68.83. The company has a market capitalization of $24.60 billion, a PE ratio of 29.97 and a beta of 0.34.
Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a return on equity of 7.64% and a net margin of 33.44%. Equity Residential’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. On average, analysts anticipate that Equity Residential will post $1.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were paid a $0.5038 dividend. This represents a $2.02 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s dividend payout ratio (DPR) is presently 90.58%.
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A number of research analysts have issued reports on the company. UBS AG cut Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a report on Thursday, July 6th. BidaskClub raised Equity Residential from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating on shares of Equity Residential in a report on Monday, July 31st. TheStreet raised Equity Residential from a “c+” rating to a “b” rating in a report on Monday, July 31st. Finally, Barclays PLC lifted their price objective on Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Equity Residential has an average rating of “Hold” and a consensus price target of $67.92.
A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. raised its stake in Equity Residential by 2.7% in the first quarter. Raymond James Trust N.A. now owns 12,088 shares of the real estate investment trust’s stock valued at $752,000 after buying an additional 322 shares during the period. Gulf International Bank UK Ltd raised its stake in Equity Residential by 5.8% in the first quarter. Gulf International Bank UK Ltd now owns 115,440 shares of the real estate investment trust’s stock valued at $7,182,000 after buying an additional 6,300 shares during the period. National Pension Service raised its stake in Equity Residential by 9.9% in the first quarter. National Pension Service now owns 316,953 shares of the real estate investment trust’s stock valued at $19,711,000 after buying an additional 28,475 shares during the period. Merriman Wealth Management LLC raised its stake in Equity Residential by 1.7% in the first quarter. Merriman Wealth Management LLC now owns 60,858 shares of the real estate investment trust’s stock valued at $3,787,000 after buying an additional 1,035 shares during the period. Finally, DnB Asset Management AS raised its stake in Equity Residential by 18.1% in the first quarter. DnB Asset Management AS now owns 38,537 shares of the real estate investment trust’s stock valued at $2,398,000 after buying an additional 5,900 shares during the period. 92.39% 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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