Equity Residential (NYSE:EQR) CFO Robert Garechana sold 4,974 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $79.00, for a total value of $392,946.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
EQR stock opened at $75.65 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.88. The company has a market cap of $29.00 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 3.89 and a beta of 0.54. The stock’s fifty day moving average price is $76.95. Equity Residential has a fifty-two week low of $62.40 and a fifty-two week high of $79.47.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.53). The firm had revenue of $662.30 million for the quarter, compared to the consensus estimate of $655.00 million. Equity Residential had a return on equity of 5.31% and a net margin of 21.10%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. Equities research analysts expect that Equity Residential will post 3.4 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new position in shares of Equity Residential in the fourth quarter worth $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Equity Residential in the first quarter worth $30,000. Liberty Wealth Management LLC bought a new position in shares of Equity Residential in the fourth quarter worth $38,000. Parallel Advisors LLC increased its position in shares of Equity Residential by 162.9% in the first quarter. Parallel Advisors LLC now owns 828 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 513 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of Equity Residential by 120.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,736 shares of the real estate investment trust’s stock worth $115,000 after purchasing an additional 949 shares during the period. Institutional investors own 88.02% of the company’s stock.
EQR has been the topic of a number of research analyst reports. Raymond James upgraded Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 price target on the stock in a research note on Thursday, April 11th. BMO Capital Markets restated a “hold” rating and issued a $78.00 price target on shares of Equity Residential in a research note on Monday, March 25th. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Evercore ISI cut Equity Residential from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. Finally, Barclays increased their price target on Equity Residential from $73.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $72.52.
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 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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