Alexander Brackenridge Sells 4,027 Shares of Equity Residential (NYSE:EQR) Stock

Equity Residential (NYSE:EQR) EVP Alexander Brackenridge sold 4,027 shares of Equity Residential stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the sale, the executive vice president now owns 69,901 shares in the company, valued at approximately $4,544,264.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Equity Residential Stock Performance

Shares of Equity Residential stock opened at $64.04 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.30. The firm has a 50 day simple moving average of $62.24 and a 200 day simple moving average of $59.93. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $69.45. The firm has a market cap of $24.31 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.79 and a beta of 0.84.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $730.80 million during the quarter, compared to the consensus estimate of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. Sell-side analysts predict that Equity Residential will post 3.85 earnings per share for the current fiscal year.

Equity Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a dividend of $0.675 per share. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, March 22nd. This represents a $2.70 annualized dividend and a dividend yield of 4.22%. Equity Residential’s payout ratio is currently 112.03%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 target price on shares of Equity Residential in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft started coverage on Equity Residential in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective on the stock. Mizuho cut their target price on Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Barclays lowered their price target on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Finally, Wedbush reissued a “neutral” rating and set a $68.00 price objective on shares of Equity Residential in a report on Monday. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.04.

Hedge Funds Weigh In On Equity Residential

Large investors have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. raised its position in shares of Equity Residential by 593.9% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 392 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in Equity Residential in the fourth quarter valued at about $28,000. Allworth Financial LP lifted its stake in Equity Residential by 120.8% in the fourth quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 267 shares during the period. Voisard Asset Management Group Inc. bought a new position in Equity Residential during the fourth quarter worth about $33,000. Finally, AdvisorNet Financial Inc acquired a new position in shares of Equity Residential during the 4th quarter worth about $34,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Equity Residential Company Profile

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.