Insider Selling: Equity Residential (NYSE:EQR) Director Sells 3,241 Shares of Stock

Equity Residential (NYSE:EQR) Director Mary Kay Haben sold 3,241 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total value of $212,220.68. Following the transaction, the director now owns 9,720 shares in the company, valued at approximately $636,465.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Equity Residential Stock Performance

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

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $730.80 million for 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 company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. As a group, equities research analysts anticipate that Equity Residential will post 3.85 EPS for the current fiscal year.

Equity Residential Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were issued a $0.675 dividend. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.70 dividend on an annualized basis and a yield of 4.19%. Equity Residential’s dividend payout ratio is currently 112.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EQR shares. Evercore ISI upped their target price on Equity Residential from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Wedbush reiterated a “neutral” rating and set a $68.00 target price on shares of Equity Residential in a report on Monday. Truist Financial reduced their target price on Equity Residential from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft began coverage on Equity Residential in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price on the stock. Finally, BMO Capital Markets upgraded Equity Residential from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $68.00 to $70.00 in a research note on Monday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.04.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EQR. Robeco Institutional Asset Management B.V. lifted its holdings in Equity Residential by 264.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 374,059 shares of the real estate investment trust’s stock valued at $21,961,000 after acquiring an additional 271,294 shares during the period. Xponance Inc. raised its stake in shares of Equity Residential by 8.0% in the third quarter. Xponance Inc. now owns 48,772 shares of the real estate investment trust’s stock worth $2,863,000 after buying an additional 3,595 shares during the period. Dakota Wealth Management bought a new position in shares of Equity Residential in the third quarter worth about $1,154,000. Raymond James & Associates boosted its holdings in Equity Residential by 1.6% in the 3rd quarter. Raymond James & Associates now owns 152,505 shares of the real estate investment trust’s stock worth $8,954,000 after buying an additional 2,406 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Equity Residential by 5.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 11,887 shares of the real estate investment trust’s stock worth $698,000 after buying an additional 574 shares during the period. Institutional investors own 92.68% of the company’s stock.

About Equity Residential

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.