Equity Residential (NYSE:EQR) CFO Sells $309,425.64 in Stock

Equity Residential (NYSE:EQR) CFO Robert Garechana sold 4,294 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $72.06, for a total value of $309,425.64. Following the sale, the chief financial officer now owns 14,108 shares in the company, valued at $1,016,622.48. The trade was a 23.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Equity Residential Stock Down 1.1 %

Shares of Equity Residential stock opened at $71.36 on Friday. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The firm has a market capitalization of $27.08 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 4.35 and a beta of 0.93. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The stock’s fifty day moving average is $71.02 and its 200-day moving average is $72.70.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.70 annualized dividend and a yield of 3.78%. Equity Residential’s payout ratio is presently 110.66%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EQR shares. Wells Fargo & Company reduced their price target on shares of Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Mizuho decreased their target price on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Scotiabank dropped their price target on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price objective on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Barclays dropped their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Equity Residential by 13.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,055 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 368 shares during the period. Cascade Financial Partners LLC purchased a new position in Equity Residential during the 4th quarter worth approximately $208,000. Wealthfront Advisers LLC raised its stake in Equity Residential by 367.8% during the 4th quarter. Wealthfront Advisers LLC now owns 126,567 shares of the real estate investment trust’s stock valued at $9,082,000 after purchasing an additional 99,514 shares during the period. Inspire Advisors LLC lifted its holdings in shares of Equity Residential by 7.0% in the fourth quarter. Inspire Advisors LLC now owns 8,194 shares of the real estate investment trust’s stock valued at $588,000 after purchasing an additional 537 shares in the last quarter. Finally, Davis R M Inc. acquired a new stake in shares of Equity Residential in the fourth quarter worth $205,000. 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.