Equity Residential (NYSE:EQR) CAO Ian Kaufman sold 5,075 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $67.75, for a total transaction of $343,831.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of NYSE EQR traded down $0.07 during trading on Friday, reaching $64.89. 1,559,770 shares of the company traded hands, compared to its average volume of 2,091,145. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.84. The company has a market cap of $24.40 billion, a PE ratio of 20.73, a PEG ratio of 3.43 and a beta of 0.37. Equity Residential has a 52-week low of $54.97 and a 52-week high of $70.46.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The firm had revenue of $639.62 million for the quarter, compared to the consensus estimate of $637.34 million. Equity Residential had a net margin of 23.27% and a return on equity of 5.63%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. As a group, equities research analysts anticipate that Equity Residential will post 3.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Monday, September 24th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, September 21st. Equity Residential’s payout ratio is presently 69.01%.
Several brokerages recently commented on EQR. Deutsche Bank increased their price objective on shares of Equity Residential from $66.00 to $67.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. Robert W. Baird reissued a “hold” rating and set a $66.00 price objective on shares of Equity Residential in a research report on Thursday, August 16th. Mizuho reissued a “buy” rating and set a $76.00 price objective on shares of Equity Residential in a research report on Monday, August 6th. SunTrust Banks downgraded shares of Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price objective on the stock. in a research report on Tuesday, August 14th. Finally, ValuEngine raised shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $67.57.
Several hedge funds and other institutional investors have recently made changes to their positions in EQR. BlackRock Inc. boosted its holdings in shares of Equity Residential by 6.3% in the second quarter. BlackRock Inc. now owns 38,144,554 shares of the real estate investment trust’s stock worth $2,429,425,000 after buying an additional 2,247,512 shares during the last quarter. FMR LLC boosted its holdings in shares of Equity Residential by 5.1% in the second quarter. FMR LLC now owns 10,660,719 shares of the real estate investment trust’s stock worth $678,982,000 after buying an additional 520,610 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Equity Residential by 3.2% in the first quarter. Northern Trust Corp now owns 6,766,189 shares of the real estate investment trust’s stock worth $416,933,000 after buying an additional 209,065 shares during the last quarter. Boston Partners boosted its holdings in shares of Equity Residential by 80.2% in the second quarter. Boston Partners now owns 6,431,486 shares of the real estate investment trust’s stock worth $409,622,000 after buying an additional 2,862,717 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Equity Residential by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,543,211 shares of the real estate investment trust’s stock worth $353,044,000 after buying an additional 71,485 shares during the last quarter. 87.30% of the stock is currently owned by hedge funds and other institutional investors.
Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
Further Reading: Earnings Reports
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