Equity Residential (NYSE:EQR) Chairman Samuel Zell Sells 81,300 Shares of Stock

Equity Residential (NYSE:EQR) Chairman Samuel Zell sold 81,300 shares of Equity Residential stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $84.54, for a total transaction of $6,873,102.00.

EQR stock traded up $0.42 during mid-day trading on Friday, hitting $84.96. 331,606 shares of the company were exchanged, compared to its average volume of 1,423,458. Equity Residential has a 12-month low of $63.17 and a 12-month high of $89.55. The firm has a market capitalization of $31.60 billion, a P/E ratio of 26.14, a PEG ratio of 3.97 and a beta of 0.42. The business has a fifty day simple moving average of $86.23 and a 200-day simple moving average of $82.28. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.87.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.17). Equity Residential had a net margin of 29.88% and a return on equity of 7.73%. The company had revenue of $685.15 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same period last year, the firm posted $0.83 earnings per share. Equity Residential’s revenue was up 4.9% on a year-over-year basis. Research analysts predict that Equity Residential will post 3.47 EPS for the current year.

A number of institutional investors have recently bought and sold shares of EQR. NEXT Financial Group Inc acquired a new position in Equity Residential during the second quarter worth $34,000. AE Wealth Management LLC acquired a new stake in Equity Residential in the second quarter valued at approximately $212,000. Commerzbank Aktiengesellschaft FI lifted its stake in Equity Residential by 3.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 4,156 shares of the real estate investment trust’s stock worth $316,000 after acquiring an additional 134 shares during the last quarter. Greenleaf Trust lifted its stake in Equity Residential by 5.2% in the second quarter. Greenleaf Trust now owns 3,244 shares of the real estate investment trust’s stock worth $246,000 after acquiring an additional 161 shares during the last quarter. Finally, Hartford Investment Management Co. grew its holdings in Equity Residential by 0.8% during the 2nd quarter. Hartford Investment Management Co. now owns 41,040 shares of the real estate investment trust’s stock worth $3,116,000 after acquiring an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 88.92% of the company’s stock.

Several equities analysts have weighed in on EQR shares. Goldman Sachs Group initiated coverage on shares of Equity Residential in a report on Friday, November 8th. They issued a “sell” rating and a $86.00 target price on the stock. Morgan Stanley raised their price target on shares of Equity Residential from $79.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Zacks Investment Research lowered shares of Equity Residential from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research report on Monday. Robert W. Baird cut Equity Residential from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $78.00 to $81.00 in a report on Monday, October 14th. Finally, SunTrust Banks set a $82.00 price objective on Equity Residential and gave the stock a “hold” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $82.47.

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 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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