Robert Garechana Sells 4,974 Shares of Equity Residential (NYSE:EQR) Stock

Equity Residential (NYSE:EQR) CFO Robert Garechana sold 4,974 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $79.00, for a total value of $392,946.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of EQR opened at $76.91 on Wednesday. The company has a fifty day simple moving average of $76.93. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.88. Equity Residential has a 52-week low of $62.40 and a 52-week high of $79.47. The company has a market cap of $29.00 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 3.87 and a beta of 0.54.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.53). Equity Residential had a net margin of 21.10% and a return on equity of 5.31%. The business had revenue of $662.30 million during the quarter, compared to the consensus estimate of $655.00 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Equity Residential will post 3.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.567 dividend. The ex-dividend date is Thursday, June 27th. This represents a $2.27 annualized dividend and a yield of 2.95%. Equity Residential’s payout ratio is 69.85%.

Several research firms recently commented on EQR. Barclays raised their target price on Equity Residential from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Argus raised their target price on Equity Residential to $84.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Raymond James upgraded Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 target price for the company in a research report on Thursday, April 11th. Evercore ISI downgraded Equity Residential from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. Finally, Zacks Investment Research downgraded Equity Residential from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Equity Residential currently has a consensus rating of “Hold” and an average price target of $72.52.

Institutional investors and hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new position in Equity Residential in the 4th quarter valued at $25,000. Cullen Frost Bankers Inc. bought a new position in Equity Residential in the 1st quarter valued at $30,000. Liberty Wealth Management LLC bought a new position in Equity Residential in the 4th quarter valued at $38,000. Parallel Advisors LLC raised its position in Equity Residential by 162.9% in the 1st quarter. Parallel Advisors LLC now owns 828 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 513 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its position in Equity Residential by 120.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,736 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 949 shares during the last quarter. Hedge funds and other institutional investors own 88.02% 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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