Equity Residential (NYSE:EQR) insider David S. Santee sold 12,499 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $67.25, for a total transaction of $840,557.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
EQR stock opened at $67.48 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.85. Equity Residential has a one year low of $54.97 and a one year high of $70.35. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.44 and a beta of 0.40.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.23). Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The firm had revenue of $652.87 million for the quarter, compared to analysts’ expectations of $645.77 million. During the same period in the prior year, the company posted $0.37 earnings per share. Equity Residential’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Equity Residential will post 3.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Monday, September 24th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Friday, September 21st. Equity Residential’s dividend payout ratio is presently 69.01%.
Several research firms have recently weighed in on EQR. Stifel Nicolaus raised their price objective on shares of Equity Residential from $60.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Friday, October 26th. BMO Capital Markets raised their price objective on shares of Equity Residential from $68.00 to $69.00 and gave the company a “market perform” rating in a research report on Wednesday, October 24th. Scotiabank began coverage on shares of Equity Residential in a research report on Tuesday, October 16th. They set an “outperform” rating for the company. Finally, Mizuho restated a “buy” rating and set a $76.00 price objective on shares of Equity Residential in a research report on Monday, August 6th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $68.69.
Hedge funds have recently bought and sold shares of the business. Landaas & Co. WI ADV purchased a new stake in Equity Residential during the second quarter valued at about $101,000. Stelac Advisory Services LLC purchased a new stake in Equity Residential during the third quarter valued at about $120,000. Bbva Compass Bancshares Inc. purchased a new stake in Equity Residential during the third quarter valued at about $137,000. Lenox Wealth Management Inc. purchased a new stake in Equity Residential during the third quarter valued at about $426,000. Finally, Girard Partners LTD. purchased a new stake in shares of Equity Residential in the second quarter worth approximately $203,000. 87.34% of the stock is owned by institutional investors.
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Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
Further Reading: Institutional Investors
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