Equity Residential (NYSE:EQR) Director Charles L. Atwood sold 10,500 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $87.85, for a total value of $922,425.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NYSE EQR opened at $87.45 on Tuesday. Equity Residential has a 12-month low of $63.17 and a 12-month high of $89.12. The company has a market cap of $32.48 billion, a P/E ratio of 26.91, a P/E/G ratio of 4.22 and a beta of 0.47. The company has a current ratio of 0.13, a quick ratio of 1.45 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average price of $86.65 and a 200 day moving average price of $80.49.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.17). Equity Residential had a net margin of 29.88% and a return on equity of 7.73%. The company had revenue of $685.15 million during the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Equity Residential will post 3.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.5675 dividend. This is an increase from Equity Residential’s previous quarterly dividend of $0.57. This represents a $2.27 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Friday, September 27th. Equity Residential’s dividend payout ratio is currently 69.85%.
Several research analysts recently weighed in on the company. SunTrust Banks set a $82.00 target price on Equity Residential and gave the stock a “hold” rating in a research report on Friday. Robert W. Baird lowered Equity Residential from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $78.00 to $81.00 in a research report on Monday, October 14th. Barclays reaffirmed a “hold” rating and issued a $87.00 target price on shares of Equity Residential in a research report on Sunday, October 13th. Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Monday, August 12th. Finally, ValuEngine lowered Equity Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $79.61.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Equity Residential by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 48,372,951 shares of the real estate investment trust’s stock valued at $3,672,474,000 after purchasing an additional 168,854 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of Equity Residential by 74.6% during the second quarter. Cohen & Steers Inc. now owns 6,812,818 shares of the real estate investment trust’s stock valued at $517,229,000 after acquiring an additional 2,911,036 shares in the last quarter. Invesco Ltd. grew its stake in shares of Equity Residential by 4.0% during the second quarter. Invesco Ltd. now owns 6,727,694 shares of the real estate investment trust’s stock valued at $510,766,000 after acquiring an additional 260,355 shares in the last quarter. Resolution Capital Ltd grew its stake in shares of Equity Residential by 9.6% during the third quarter. Resolution Capital Ltd now owns 4,798,695 shares of the real estate investment trust’s stock valued at $413,935,000 after acquiring an additional 421,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Equity Residential by 3.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,574,204 shares of the real estate investment trust’s stock valued at $347,274,000 after acquiring an additional 143,855 shares in the last quarter. Hedge funds and other institutional investors own 88.24% of the company’s stock.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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