Insider Selling: Equity Residential (NYSE:EQR) EVP Sells 4,027 Shares of Stock

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

Equity Residential Price Performance

Shares of NYSE:EQR traded down $0.90 during trading on Tuesday, hitting $64.40. 1,986,628 shares of the company were exchanged, compared to its average volume of 2,107,598. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45. The company has a market capitalization of $24.40 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 3.78 and a beta of 0.84. The company has a quick ratio of 0.30, a current ratio of 0.23 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $62.10 and its 200-day moving average is $59.87.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm 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 business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. Equities analysts forecast that Equity Residential will post 3.85 earnings per share for the current 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 paid a dividend of $0.675 per share. The ex-dividend date was Friday, March 22nd. This represents a $2.70 annualized dividend and a dividend yield of 4.19%. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio (DPR) is presently 112.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EQR. Morgan Stanley increased their target price on shares of Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Wedbush reissued a “neutral” rating and set a $68.00 price target on shares of Equity Residential in a research report on Monday. Mizuho lowered their price objective on Equity Residential from $62.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Piper Sandler increased their target price on Equity Residential from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Equity Residential in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.04.

Hedge Funds Weigh In On Equity Residential

A number of hedge funds have recently modified their holdings of EQR. Cornercap Investment Counsel Inc. boosted its holdings in Equity Residential by 2.6% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 7,291 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 185 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Equity Residential by 1.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,864 shares of the real estate investment trust’s stock valued at $815,000 after purchasing an additional 208 shares during the last quarter. Czech National Bank increased its position in shares of Equity Residential by 0.3% during the first quarter. Czech National Bank now owns 60,730 shares of the real estate investment trust’s stock worth $3,833,000 after buying an additional 210 shares during the period. Covestor Ltd raised its stake in Equity Residential by 17.3% during the third quarter. Covestor Ltd now owns 1,626 shares of the real estate investment trust’s stock worth $95,000 after buying an additional 240 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Equity Residential by 0.4% in the fourth quarter. US Bancorp DE now owns 67,535 shares of the real estate investment trust’s stock valued at $4,130,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

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.