Traders Sell Shares of Equity Residential (EQR) on Strength (EQR)

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Investors sold shares of Equity Residential (NYSE:EQR) on strength during trading on Friday. $17.93 million flowed into the stock on the tick-up and $37.53 million flowed out of the stock on the tick-down, for a money net flow of $19.60 million out of the stock. Of all equities tracked, Equity Residential had the 18th highest net out-flow for the day. Equity Residential traded up $0.18 for the day and closed at $74.40

EQR has been the topic of several recent research reports. TheStreet raised shares of Equity Residential from a “c+” rating to a “b-” rating in a research report on Wednesday, November 28th. Argus raised their price objective on shares of Equity Residential to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 14th. Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Monday, November 26th. Morgan Stanley raised their price objective on shares of Equity Residential from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, December 17th. Finally, Barclays reaffirmed a “hold” rating and set a $65.00 price objective on shares of Equity Residential in a research report on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $70.85.

The stock has a market cap of $27.23 billion, a P/E ratio of 22.89, a P/E/G ratio of 3.67 and a beta of 0.59. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.85.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $652.35 million. During the same period in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Equity Residential will post 3.39 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Monday, March 25th will be given a $0.5675 dividend. This is a positive change from Equity Residential’s previous quarterly dividend of $0.54. The ex-dividend date is Friday, March 22nd. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.05%. Equity Residential’s dividend payout ratio (DPR) is currently 66.46%.

In other news, Director Linda Bynoe sold 10,677 shares of Equity Residential stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $74.90, for a total value of $799,707.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David J. Neithercut sold 50,000 shares of Equity Residential stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $74.52, for a total transaction of $3,726,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 230,872 shares of company stock worth $16,960,483. Insiders own 3.75% of the company’s stock.

Several large investors have recently added to or reduced their stakes in EQR. Altshuler Shaham Ltd acquired a new stake in shares of Equity Residential in the fourth quarter worth $25,000. Rational Advisors LLC acquired a new stake in shares of Equity Residential in the fourth quarter worth $31,000. Braun Bostich & Associates Inc. grew its stake 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 worth $34,000 after acquiring an additional 142 shares during the last quarter. Enlightenment Research LLC acquired a new stake in shares of Equity Residential in the fourth quarter worth $40,000. Finally, Legacy Bridge LLC acquired a new stake in shares of Equity Residential in the fourth quarter worth $78,000. 87.22% of the stock is currently owned by institutional investors.

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About Equity Residential (NYSE:EQR)

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 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

Further Reading: What is Cost of Goods Sold (COGS)?

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