Equity Residential (EQR) CEO David J. Neithercut Sells 25,000 Shares of Stock

Equity Residential (NYSE:EQR) CEO David J. Neithercut sold 25,000 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $70.09, for a total value of $1,752,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of EQR stock traded up $0.98 on Friday, hitting $71.25. The company had a trading volume of 2,534,485 shares, compared to its average volume of 1,524,161. The stock has a market cap of $25.89 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 3.57 and a beta of 0.40. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.85. Equity Residential has a twelve month low of $54.97 and a twelve month high of $71.29.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.23). The company had revenue of $652.87 million during the quarter, compared to analyst estimates of $645.77 million. Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. Sell-side analysts forecast that Equity Residential will post 3.26 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Landaas & Co. WI ADV acquired a new stake in Equity Residential during the second quarter worth approximately $101,000. Stelac Advisory Services LLC acquired a new stake in Equity Residential during the third quarter worth approximately $120,000. Bbva Compass Bancshares Inc. acquired a new stake in Equity Residential during the third quarter worth approximately $137,000. Cornerstone Wealth Management LLC acquired a new stake in Equity Residential during the second quarter worth approximately $187,000. Finally, Girard Partners LTD. acquired a new stake in Equity Residential during the second quarter worth approximately $203,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on EQR shares. TheStreet upgraded Equity Residential from a “c+” rating to a “b-” rating in a research report on Wednesday. Argus increased their target price on Equity Residential from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Friday, October 26th. Scotiabank set a $71.00 target price on Equity Residential and gave the company a “buy” rating in a research report on Monday, November 12th. Finally, Mizuho reissued a “buy” rating and issued a $76.00 price target on shares of Equity Residential in a research note on Monday, August 6th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $69.00.

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About Equity Residential

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 306 properties consisting of 79,260 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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