Insider Selling: Equity Residential (NYSE:EQR) Director Sells 6,665 Shares of Stock

Equity Residential (NYSE:EQR) Director Linda Bynoe sold 6,665 shares of Equity Residential stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $79.96, for a total transaction of $532,933.40. Following the completion of the transaction, the director now directly owns 15,548 shares of the company’s stock, valued at approximately $1,243,218.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of NYSE:EQR opened at $80.80 on Friday. The firm has a 50 day moving average price of $74.68. The firm has a market cap of $30.22 billion, a PE ratio of 45.65, a PEG ratio of 8.99 and a beta of 0.77. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.76. Equity Residential has a 12 month low of $45.42 and a 12 month high of $82.05.

Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.15 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.53). Equity Residential had a net margin of 26.64% and a return on equity of 6.20%. On average, sell-side analysts forecast that Equity Residential will post 2.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 9th. Stockholders of record on Monday, March 29th were given a $0.6025 dividend. This represents a $2.41 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, March 26th. Equity Residential’s payout ratio is presently 73.93%.

A number of research analysts have recently commented on EQR shares. Truist downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a research report on Friday, March 19th. Truist Securities restated a “hold” rating on shares of Equity Residential in a research note on Thursday, March 25th. Piper Sandler upgraded shares of Equity Residential from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $54.00 to $76.00 in a research note on Thursday, April 29th. TheStreet cut shares of Equity Residential from a “b-” rating to a “c” rating in a research note on Tuesday, April 27th. Finally, Royal Bank of Canada initiated coverage on shares of Equity Residential in a research note on Tuesday, March 30th. They set a “sector perform” rating and a $71.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $71.40.

Several large investors have recently modified their holdings of the company. KB Financial Partners LLC acquired a new position in shares of Equity Residential in the 1st quarter valued at approximately $210,000. Kore Private Wealth LLC raised its position in shares of Equity Residential by 70.2% in the 1st quarter. Kore Private Wealth LLC now owns 7,364 shares of the real estate investment trust’s stock valued at $527,000 after buying an additional 3,037 shares in the last quarter. Oaktree Capital Management LP raised its position in shares of Equity Residential by 94.3% in the 1st quarter. Oaktree Capital Management LP now owns 927,000 shares of the real estate investment trust’s stock valued at $66,401,000 after buying an additional 450,000 shares in the last quarter. Adelante Capital Management LLC grew its holdings in shares of Equity Residential by 2.6% during the 1st quarter. Adelante Capital Management LLC now owns 1,288,337 shares of the real estate investment trust’s stock valued at $92,283,000 after purchasing an additional 33,003 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Equity Residential during the 1st quarter valued at approximately $2,082,000. Institutional investors own 84.59% of the company’s stock.

Equity Residential Company Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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