Investors Buy Equity Residential (EQR) on Weakness

Investors purchased shares of Equity Residential (NYSE:EQR) on weakness during trading hours on Monday. $38.70 million flowed into the stock on the tick-up and $22.96 million flowed out of the stock on the tick-down, for a money net flow of $15.74 million into the stock. Of all companies tracked, Equity Residential had the 29th highest net in-flow for the day. Equity Residential traded down ($0.04) for the day and closed at $56.61

Several brokerages recently commented on EQR. Mizuho set a $67.00 price objective on shares of Equity Residential and gave the company a “buy” rating in a research report on Friday, February 9th. Cantor Fitzgerald set a $66.00 price objective on shares of Equity Residential and gave the company a “hold” rating in a research report on Monday, February 5th. Jefferies Group reissued a “hold” rating and set a $62.00 price objective on shares of Equity Residential in a research report on Monday, February 5th. Stifel Nicolaus dropped their price target on shares of Equity Residential from $64.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, February 1st. Finally, SunTrust Banks set a $69.00 price target on shares of Equity Residential and gave the company a “buy” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Equity Residential currently has an average rating of “Hold” and an average price target of $67.87.

The company has a debt-to-equity ratio of 0.86, a current ratio of 0.29 and a quick ratio of 0.24. The firm has a market cap of $20,833.50, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 2.77 and a beta of 0.34.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.47). Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The company had revenue of $630.50 million for the quarter, compared to the consensus estimate of $625.83 million. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. equities analysts expect that Equity Residential will post 3.23 earnings per share for the current year.

In related news, CFO Mark J. Parrell sold 7,355 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total value of $427,913.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Fenster sold 449 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total transaction of $26,122.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,077 shares of company stock valued at $819,000. 3.79% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EQR. Assetmark Inc. boosted its stake in Equity Residential by 2,976.2% during the fourth quarter. Assetmark Inc. now owns 1,938 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 1,875 shares during the period. Amica Retiree Medical Trust purchased a new position in Equity Residential during the third quarter worth $135,000. Zions Bancorporation boosted its stake in Equity Residential by 3,348.4% during the third quarter. Zions Bancorporation now owns 2,138 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 2,076 shares during the period. Americafirst Capital Management LLC purchased a new position in Equity Residential during the third quarter worth $171,000. Finally, Bridges Investment Management Inc. purchased a new position in Equity Residential during the fourth quarter worth $206,000. 93.55% of the stock is owned by institutional investors.

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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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