Equity Residential (NYSE:EQR) CFO Mark J. Parrell sold 7,355 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total transaction of $427,913.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Equity Residential (NYSE EQR) opened at $56.65 on Friday. The stock has a market cap of $20,848.22, a PE ratio of 18.04, a P/E/G ratio of 2.77 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.29 and a quick ratio of 0.24. Equity Residential has a 12-month low of $55.21 and a 12-month high of $70.46.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.47). The company had revenue of $630.50 million during the quarter, compared to the consensus estimate of $625.83 million. Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. equities analysts forecast that Equity Residential will post 3.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were given a $0.5038 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.02 dividend on an annualized basis and a yield of 3.56%. Equity Residential’s dividend payout ratio is presently 123.93%.
A number of analysts have weighed in on the stock. Mizuho set a $67.00 target price on shares of Equity Residential and gave the stock a “buy” rating in a report on Friday. Jefferies Group restated a “hold” rating and set a $62.00 price target on shares of Equity Residential in a research report on Monday, February 5th. Cantor Fitzgerald set a $66.00 price target on shares of Equity Residential and gave the stock a “hold” rating in a research report on Monday, February 5th. Stifel Nicolaus lowered their price target on shares of Equity Residential from $64.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, February 1st. Finally, SunTrust Banks set a $69.00 price target on shares of Equity Residential and gave the stock a “buy” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $67.87.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norinchukin Bank The grew its position in Equity Residential by 7.5% in the 4th quarter. Norinchukin Bank The now owns 29,381 shares of the real estate investment trust’s stock valued at $1,874,000 after buying an additional 2,042 shares in the last quarter. American International Group Inc. grew its position in Equity Residential by 5.7% in the 4th quarter. American International Group Inc. now owns 137,069 shares of the real estate investment trust’s stock valued at $8,741,000 after buying an additional 7,418 shares in the last quarter. Centaurus Financial Inc. bought a new position in Equity Residential in the 4th quarter valued at about $731,000. Employees Retirement System of Texas grew its position in Equity Residential by 560.0% in the 4th quarter. Employees Retirement System of Texas now owns 132,000 shares of the real estate investment trust’s stock valued at $8,418,000 after buying an additional 112,000 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Equity Residential in the 4th quarter valued at about $338,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.
Equity Residential Company Profile
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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