Insider Selling: Equity Residential (EQR) CEO Sells $1,787,750.00 in Stock

Equity Residential (NYSE:EQR) CEO David J. Neithercut sold 25,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $71.51, for a total value of $1,787,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Equity Residential stock opened at $72.65 on Friday. The company has a market cap of $26.07 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 3.59 and a beta of 0.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a 12-month low of $54.97 and a 12-month high of $72.75.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.23). The company had revenue of $652.87 million for the quarter, compared to the consensus estimate of $645.77 million. Equity Residential had a return on equity of 6.37% and a net margin of 26.01%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. As a group, equities analysts predict that Equity Residential will post 3.26 EPS for the current fiscal year.



A number of institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Equity Residential by 0.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 229,934 shares of the real estate investment trust’s stock worth $15,235,000 after purchasing an additional 824 shares during the period. Arizona State Retirement System boosted its position in shares of Equity Residential by 0.8% in the third quarter. Arizona State Retirement System now owns 154,488 shares of the real estate investment trust’s stock valued at $10,236,000 after acquiring an additional 1,199 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Equity Residential by 2.4% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 50,181 shares of the real estate investment trust’s stock valued at $3,325,000 after acquiring an additional 1,200 shares during the period. TD Asset Management Inc. boosted its position in shares of Equity Residential by 1.2% in the second quarter. TD Asset Management Inc. now owns 105,423 shares of the real estate investment trust’s stock valued at $6,714,000 after acquiring an additional 1,233 shares during the period. Finally, Utah Retirement Systems boosted its position in shares of Equity Residential by 1.6% in the third quarter. Utah Retirement Systems now owns 89,572 shares of the real estate investment trust’s stock valued at $5,936,000 after acquiring an additional 1,400 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Monday, November 19th. TheStreet upgraded Equity Residential from a “c+” rating to a “b-” rating in a report on Wednesday, November 28th. ValuEngine upgraded Equity Residential from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Scotiabank set a $71.00 price objective on Equity Residential and gave the stock a “buy” rating in a report on Monday, November 12th. Finally, BMO Capital Markets increased their price objective on Equity Residential from $68.00 to $69.00 and gave the stock a “market perform” rating in a report on Wednesday, October 24th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Equity Residential currently has a consensus rating of “Hold” and an average target price of $69.00.

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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 306 properties consisting of 79,260 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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