Insider Selling: Equity Residential (NYSE:EQR) Chairman Sells $6,873,102.00 in Stock

Equity Residential (NYSE:EQR) Chairman Samuel Zell sold 81,300 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $84.54, for a total value of $6,873,102.00.

Shares of NYSE EQR opened at $84.44 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.13 and a quick ratio of 0.13. The business has a 50-day moving average of $86.17 and a 200-day moving average of $82.32. The stock has a market capitalization of $31.36 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 3.97 and a beta of 0.42. Equity Residential has a fifty-two week low of $63.17 and a fifty-two week high of $89.55.

Equity Residential (NYSE:EQR) last released its 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 return on equity of 7.73% and a net margin of 29.88%. The company had revenue of $685.15 million for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the previous year, the company posted $0.83 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Equity Residential will post 3.47 EPS for the current year.

Large investors have recently bought and sold shares of the business. NEXT Financial Group Inc acquired a new stake in shares of Equity Residential in the 2nd quarter valued at approximately $34,000. Cutler Group LP raised its position in Equity Residential by 105.0% during the third quarter. Cutler Group LP now owns 414 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 8,767 shares in the last quarter. Trustcore Financial Services LLC bought a new stake in Equity Residential during the second quarter worth $40,000. LLBH Private Wealth Management LLC bought a new stake in Equity Residential during the second quarter worth $51,000. Finally, CSat Investment Advisory L.P. lifted its stake in Equity Residential by 362.5% in the second quarter. CSat Investment Advisory L.P. now owns 666 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 522 shares during the last quarter. 88.92% of the stock is currently owned by hedge funds and other institutional investors.

EQR has been the topic of a number of recent research reports. Goldman Sachs Group began coverage on Equity Residential in a research report on Friday, November 8th. They issued a “sell” rating and a $86.00 target price on the stock. Barclays reaffirmed a “hold” rating and set a $87.00 price target on shares of Equity Residential in a research report on Sunday, October 13th. Robert W. Baird cut shares of Equity Residential from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $78.00 to $81.00 in a research note on Monday, October 14th. ValuEngine downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, SunTrust Banks set a $82.00 price objective on shares of Equity Residential and gave the stock a “hold” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $82.47.

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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