Equity Residential (NYSE:EQR) EVP Scott Fenster sold 2,118 shares of Equity Residential stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $84.12, for a total value of $178,166.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Scott Fenster also recently made the following trade(s):
- On Thursday, June 20th, Scott Fenster sold 2,477 shares of Equity Residential stock. The shares were sold at an average price of $79.36, for a total value of $196,574.72.
Equity Residential stock traded down $0.10 during trading on Friday, reaching $85.26. The company had a trading volume of 14,183 shares, compared to its average volume of 1,327,384. Equity Residential has a 52 week low of $62.40 and a 52 week high of $87.09. The firm’s 50-day simple moving average is $82.10 and its 200 day simple moving average is $77.66. The firm has a market capitalization of $31.32 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 4.09 and a beta of 0.49. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.88.
Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). Equity Residential had a return on equity of 7.21% and a net margin of 28.27%. The company had revenue of $669.37 million during the quarter, compared to the consensus estimate of $667.59 million. During the same period in the prior year, the business posted $0.81 earnings per share. Equity Residential’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts predict that Equity Residential will post 3.45 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Cohen & Steers Inc. raised its stake in Equity Residential by 74.6% in the 2nd quarter. Cohen & Steers Inc. now owns 6,812,818 shares of the real estate investment trust’s stock valued at $517,229,000 after acquiring an additional 2,911,036 shares during the period. Nuveen Asset Management LLC raised its position in shares of Equity Residential by 179.5% during the second quarter. Nuveen Asset Management LLC now owns 3,746,745 shares of the real estate investment trust’s stock worth $284,454,000 after acquiring an additional 2,406,121 shares during the last quarter. FMR LLC raised its position in shares of Equity Residential by 15.8% during the first quarter. FMR LLC now owns 10,042,326 shares of the real estate investment trust’s stock worth $756,387,000 after acquiring an additional 1,373,126 shares during the last quarter. Centersquare Investment Management LLC raised its position in shares of Equity Residential by 39.4% during the first quarter. Centersquare Investment Management LLC now owns 3,885,671 shares of the real estate investment trust’s stock worth $292,669,000 after acquiring an additional 1,097,577 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Equity Residential by 2.3% during the first quarter. BlackRock Inc. now owns 42,189,362 shares of the real estate investment trust’s stock worth $3,177,704,000 after acquiring an additional 942,825 shares during the last quarter. Institutional investors and hedge funds own 88.47% of the company’s stock.
EQR has been the subject of a number of research analyst reports. Argus lifted their price target on Equity Residential to $84.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. SunTrust Banks lifted their price target on Equity Residential from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Monday, August 12th. Finally, Morgan Stanley lifted their price objective on Equity Residential from $79.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $77.97.
Equity Residential Company Profile
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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