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. $20.55 million flowed into the stock on the tick-up and $73.55 million flowed out of the stock on the tick-down, for a money net flow of $53.00 million out of the stock. Of all equities tracked, Equity Residential had the 15th highest net out-flow for the day. Equity Residential traded up $0.19 for the day and closed at $76.59

Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of Equity Residential from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Raymond James raised shares of Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 target price for the company in a research report on Thursday, April 11th. Evercore ISI cut shares of Equity Residential from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. Zacks Investment Research cut shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $78.00 target price on shares of Equity Residential in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $72.48.

The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $28.31 billion, a PE ratio of 23.57, a PEG ratio of 3.79 and a beta of 0.59.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.53). The business had revenue of $662.30 million during the quarter, compared to the consensus estimate of $655.00 million. Equity Residential had a return on equity of 5.29% and a net margin of 21.10%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities analysts expect that Equity Residential will post 3.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were paid a $0.5675 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.96%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, March 22nd. Equity Residential’s dividend payout ratio (DPR) is presently 69.85%.

In related news, EVP Scott Fenster sold 475 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $72.21, for a total value of $34,299.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan W. George sold 23,993 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $74.76, for a total transaction of $1,793,716.68. Following the sale, the insider now owns 70,575 shares of the company’s stock, valued at $5,276,187. The disclosure for this sale can be found here. Over the last quarter, insiders sold 217,803 shares of company stock valued at $16,117,049. 3.75% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan ADV increased its stake in Equity Residential by 2.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 55,013 shares of the real estate investment trust’s stock valued at $4,144,000 after purchasing an additional 1,408 shares in the last quarter. California Public Employees Retirement System increased its stake in Equity Residential by 22.5% during the 1st quarter. California Public Employees Retirement System now owns 2,394,999 shares of the real estate investment trust’s stock valued at $180,391,000 after purchasing an additional 440,279 shares in the last quarter. Honeywell International Inc. increased its stake in Equity Residential by 7.1% during the 1st quarter. Honeywell International Inc. now owns 118,584 shares of the real estate investment trust’s stock valued at $8,932,000 after purchasing an additional 7,880 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Equity Residential by 0.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 25,761 shares of the real estate investment trust’s stock valued at $1,940,000 after purchasing an additional 190 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in Equity Residential by 3.5% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 46,155 shares of the real estate investment trust’s stock valued at $3,477,000 after purchasing an additional 1,547 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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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.

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