Michael L. Manelis Sells 1,639 Shares of Equity Residential (NYSE:EQR) Stock

Equity Residential (NYSE:EQRGet Free Report) COO Michael L. Manelis sold 1,639 shares of Equity Residential stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.43, for a total transaction of $97,405.77. Following the completion of the transaction, the chief operating officer now directly owns 31,053 shares of the company’s stock, valued at approximately $1,845,479.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Equity Residential Stock Performance

NYSE:EQR opened at $58.82 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.30 and a quick ratio of 0.18. The firm has a market capitalization of $22.34 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 3.11 and a beta of 0.84. The company’s 50-day moving average is $60.29 and its two-hundred day moving average is $60.44. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45.

Equity Residential (NYSE:EQRGet Free Report) last posted its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.18). The firm had revenue of $727.50 million during the quarter, compared to analyst estimates of $725.07 million. Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Analysts forecast that Equity Residential will post 3.85 EPS for the current year.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were issued a $0.6625 dividend. The ex-dividend date was Friday, December 29th. This represents a $2.65 annualized dividend and a yield of 4.51%. Equity Residential’s payout ratio is 120.45%.

Hedge Funds Weigh In On Equity Residential

Several large investors have recently made changes to their positions in EQR. Financial Gravity Asset Management Inc. lifted its holdings in shares of Equity Residential by 593.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 392 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Equity Residential in the 4th quarter worth approximately $28,000. Money Concepts Capital Corp acquired a new position in shares of Equity Residential in the 4th quarter worth approximately $29,000. Allworth Financial LP increased its stake in Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 267 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in Equity Residential by 229.8% during the 1st quarter. First Horizon Advisors Inc. now owns 554 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 386 shares during the period. 84.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on EQR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Equity Residential in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective for the company. Mizuho boosted their target price on shares of Equity Residential from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Stifel Nicolaus cut their target price on shares of Equity Residential from $60.00 to $59.50 and set a “hold” rating for the company in a research note on Friday, November 17th. Royal Bank of Canada boosted their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Piper Sandler cut their target price on shares of Equity Residential from $71.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Equity Residential currently has a consensus rating of “Hold” and a consensus target price of $66.18.

Check Out Our Latest Report on Equity Residential

Equity Residential Company Profile

(Get Free Report)

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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.

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