Equity Residential (NYSE:EQR) Director Mark S. Shapiro Sells 2,853 Shares
Equity Residential (NYSE:EQR) Director Mark S. Shapiro sold 2,853 shares of Equity Residential stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $67.30, for a total value of $192,006.90. Following the transaction, the director now owns 2,573 shares in the company, valued at approximately $173,162.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Equity Residential (EQR) traded down 0.40% during mid-day trading on Thursday, hitting $67.08. The company had a trading volume of 1,642,099 shares. The firm has a 50-day moving average of $66.61 and a 200-day moving average of $64.47. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The company has a market cap of $24.64 billion, a PE ratio of 30.01 and a beta of 0.34.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The business had revenue of $612.48 million during the quarter, compared to analyst estimates of $609.37 million. During the same quarter last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts expect that Equity Residential will post $1.41 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were paid a $0.5038 dividend. The ex-dividend date was Thursday, June 22nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.00%. Equity Residential’s dividend payout ratio (DPR) is currently 90.58%.
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Several large investors have recently bought and sold shares of the stock. Colony Group LLC raised its stake in Equity Residential by 45.0% in the first quarter. Colony Group LLC now owns 21,417 shares of the real estate investment trust’s stock worth $1,333,000 after buying an additional 6,646 shares during the period. Green Street Investors LLC raised its stake in Equity Residential by 66.8% in the first quarter. Green Street Investors LLC now owns 211,300 shares of the real estate investment trust’s stock worth $13,147,000 after buying an additional 84,600 shares during the period. Financial Architects Inc raised its stake in Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 94 shares during the period. Land & Buildings Investment Management LLC bought a new stake in Equity Residential during the first quarter worth about $15,692,000. Finally, California Public Employees Retirement System raised its stake in Equity Residential by 5.4% in the first quarter. California Public Employees Retirement System now owns 893,256 shares of the real estate investment trust’s stock worth $55,578,000 after buying an additional 45,900 shares during the period. Institutional investors and hedge funds own 92.39% of the company’s stock.
Several research analysts have recently commented on the company. BidaskClub upgraded Equity Residential from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Barclays PLC lifted their price target on Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. TheStreet upgraded Equity Residential from a “c+” rating to a “b” rating in a report on Monday, July 31st. Bank of America Corporation upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, June 16th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Equity Residential in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $68.08.
About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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