Insider Selling: Equity Residential (EQR) Director Sells 50,000 Shares of Stock

Equity Residential (NYSE:EQR) Director David J. Neithercut sold 50,000 shares of the business’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $73.50, for a total transaction of $3,675,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NYSE:EQR traded up $0.02 during mid-day trading on Monday, hitting $73.46. 1,587,563 shares of the stock traded hands, compared to its average volume of 1,702,600. The company has a market capitalization of $27.06 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 3.64 and a beta of 0.61. Equity Residential has a 52 week low of $54.97 and a 52 week high of $73.85. The company has a current ratio of 0.29, a quick ratio of 0.13 and a debt-to-equity ratio of 0.85.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.54). The firm had revenue of $652.55 million for the quarter, compared to the consensus estimate of $652.35 million. Equity Residential had a net margin of 25.50% and a return on equity of 6.31%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, equities analysts forecast that Equity Residential will post 3.4 EPS for the current fiscal year.



EQR has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, November 19th. BMO Capital Markets upped their target price 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. Morgan Stanley upped their target price on shares of Equity Residential from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, December 17th. Wells Fargo & Co set a $70.00 target price on shares of Equity Residential and gave the company a “hold” rating in a research report on Thursday, November 1st. Finally, JPMorgan Chase & Co. upgraded shares of Equity Residential from a “neutral” rating to an “overweight” rating in a research report on Wednesday, December 19th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $69.50.

Large investors have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new position in Equity Residential during the 4th quarter valued at about $25,000. Rational Advisors LLC bought a new position in Equity Residential during the 4th quarter valued at about $31,000. Braun Bostich & Associates Inc. grew its holdings in Equity Residential by 38.0% during the 4th quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 142 shares during the last quarter. Enlightenment Research LLC bought a new position in Equity Residential during the 4th quarter valued at about $40,000. Finally, Legacy Bridge LLC bought a new position in Equity Residential during the 4th quarter valued at about $78,000. Institutional investors own 88.25% of the company’s stock.

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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 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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Insider Buying and Selling by Quarter for Equity Residential (NYSE:EQR)

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