Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK) Posts Earnings Results, Beats Expectations By $0.83 EPS

Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK) issued its earnings results on Wednesday. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.83, Briefing.com reports. Vivmark Residential Common Shares of Beneficial Interest had a net margin of 27.97% and a return on equity of 8.06%. The company’s quarterly revenue was up 56.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share.

Vivmark Residential Common Shares of Beneficial Interest Trading Up 2.7%

Shares of Vivmark Residential Common Shares of Beneficial Interest stock traded up $1.70 during trading hours on Wednesday, reaching $63.74. The stock had a trading volume of 6,331,596 shares, compared to its average volume of 3,604,025. The company’s 50 day simple moving average is $62.63. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.77. Vivmark Residential Common Shares of Beneficial Interest has a twelve month low of $57.57 and a twelve month high of $71.50. The stock has a market cap of $23.90 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 3.61 and a beta of 0.72.

Vivmark Residential Common Shares of Beneficial Interest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, October 5th were given a $0.7025 dividend. The ex-dividend date was Monday, October 5th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.4%. Vivmark Residential Common Shares of Beneficial Interest’s dividend payout ratio is 122.17%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VMRK. Morgan Stanley began coverage on Vivmark Residential Common Shares of Beneficial Interest in a research report on Tuesday, August 25th. They set an “overweight” rating and a $75.00 price target on the stock. Piper Sandler reduced their price objective on Vivmark Residential Common Shares of Beneficial Interest from $76.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. UBS Group decreased their price objective on Vivmark Residential Common Shares of Beneficial Interest from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Weiss Ratings started coverage on Vivmark Residential Common Shares of Beneficial Interest in a research report on Wednesday, August 19th. They issued a “hold (c)” rating on the stock. Finally, BMO Capital Markets dropped their price objective on shares of Vivmark Residential Common Shares of Beneficial Interest from $75.00 to $74.00 and set a “market perform” rating on the stock in a research note on Monday, August 24th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Vivmark Residential Common Shares of Beneficial Interest presently has an average rating of “Hold” and an average target price of $71.42.

Insider Activity

In other news, EVP Edward M. Schulman sold 16,595 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $64.29, for a total transaction of $1,066,892.55. Following the transaction, the executive vice president owned 48,776 shares in the company, valued at $3,135,809.04. This trade represents a 25.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Chris Carr sold 1,130 shares of Vivmark Residential Common Shares of Beneficial Interest stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $65.28, for a total transaction of $73,766.40. Following the completion of the sale, the director directly owned 4,461 shares in the company, valued at $291,214.08. This represents a 20.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 58,286 shares of company stock worth $3,735,822. 1.20% of the stock is currently owned by corporate insiders.

About Vivmark Residential Common Shares of Beneficial Interest

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.