Insider Selling: Equity Residential (EQR) Insider Sells $1,793,716.68 in Stock
Equity Residential (NYSE:EQR) insider Alan W. George sold 23,993 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $74.76, for a total value of $1,793,716.68. Following the sale, the insider now owns 70,575 shares in the company, valued at $5,276,187. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Alan W. George also recently made the following trade(s):
- On Friday, February 8th, Alan W. George sold 25,000 shares of Equity Residential stock. The shares were sold at an average price of $73.56, for a total value of $1,839,000.00.
EQR stock opened at $74.98 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.29 and a current ratio of 0.29. Equity Residential has a 12-month low of $59.29 and a 12-month high of $75.71. The stock has a market capitalization of $27.55 billion, a P/E ratio of 23.07, a PEG ratio of 3.73 and a beta of 0.59.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Monday, March 25th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 3.03%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Friday, March 22nd. Equity Residential’s dividend payout ratio (DPR) is 69.85%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Standard Life Aberdeen plc lifted its stake in Equity Residential by 1.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 203,580 shares of the real estate investment trust’s stock worth $13,491,000 after purchasing an additional 2,569 shares in the last quarter. Legacy Bridge LLC purchased a new position in Equity Residential in the 4th quarter worth approximately $78,000. Resolution Capital Ltd lifted its stake in Equity Residential by 22.7% in the 4th quarter. Resolution Capital Ltd now owns 4,340,945 shares of the real estate investment trust’s stock worth $286,546,000 after purchasing an additional 801,666 shares in the last quarter. LMR Partners LLP purchased a new position in Equity Residential in the 4th quarter worth approximately $720,000. Finally, CI Investments Inc. lifted its stake in Equity Residential by 5.6% in the 3rd quarter. CI Investments Inc. now owns 337,100 shares of the real estate investment trust’s stock worth $22,336,000 after purchasing an additional 17,800 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Equity Residential from a “hold” rating to a “sell” rating in a research report on Monday. BMO Capital Markets restated a “hold” rating and set a $78.00 target price on shares of Equity Residential in a research report on Monday. Argus lifted their price objective on Equity Residential to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 14th. Barclays reiterated a “hold” rating and issued a $65.00 price objective on shares of Equity Residential in a report on Wednesday, January 23rd. Finally, Mizuho cut Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 price objective on the stock. in a report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.54.
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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 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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