Insider Selling: Equity Residential (EQR) Director Sells 50,000 Shares of Stock

Equity Residential (NYSE:EQR) Director David J. Neithercut sold 50,000 shares of the stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $73.50, for a total transaction of $3,675,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Equity Residential stock opened at $73.29 on Thursday. The firm has a market cap of $26.73 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 3.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.13 and a current ratio of 0.29. Equity Residential has a one year low of $55.50 and a one year high of $73.85.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.54). Equity Residential had a net margin of 25.50% and a return on equity of 6.31%. The firm had revenue of $652.55 million for the quarter, compared to analysts’ expectations of $652.35 million. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Equity Residential will post 3.4 EPS for the current fiscal year.

EQR has been the subject of several research analyst reports. Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Friday, October 26th. BMO Capital Markets increased their target price on shares of Equity Residential from $68.00 to $69.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 24th. Barclays reaffirmed a “hold” rating and issued a $65.00 price target on shares of Equity Residential in a research note on Wednesday, January 23rd. Morgan Stanley upped their price target on shares of Equity Residential from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, December 17th. Finally, Mizuho downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 target price for the company. in a research report on Wednesday, January 23rd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $69.50.

A number of hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new stake in shares of Equity Residential in the fourth quarter valued at approximately $25,000. Rational Advisors LLC acquired a new position in Equity Residential during the fourth quarter worth $31,000. Braun Bostich & Associates Inc. raised its position in shares of Equity Residential by 38.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 142 shares during the period. Enlightenment Research LLC bought a new position in Equity Residential in the 4th quarter valued at about $40,000. Finally, Oregon Public Employees Retirement Fund boosted its position in Equity Residential by 6,420.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,632,545 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 2,592,169 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

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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 306 properties consisting of 79,260 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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Insider Buying and Selling by Quarter for Equity Residential (NYSE:EQR)

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