Michael L. Manelis Sells 433 Shares of Equity Residential (EQR) Stock
Equity Residential (NYSE:EQR) insider Michael L. Manelis sold 433 shares of Equity Residential stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $29,023.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Michael L. Manelis also recently made the following trade(s):
- On Monday, May 22nd, Michael L. Manelis sold 1,000 shares of Equity Residential stock. The stock was sold at an average price of $65.63, for a total transaction of $65,630.00.
Shares of Equity Residential (NYSE:EQR) traded down 0.15% during trading on Friday, reaching $66.98. 1,260,508 shares of the company traded hands. The company has a market capitalization of $24.60 billion, a P/E ratio of 29.97 and a beta of 0.34. The company’s 50-day moving average price is $66.58 and its 200-day moving average price is $64.51. Equity Residential has a 52 week low of $58.28 and a 52 week high of $68.83.
Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $612.48 million during the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a net margin of 33.44% and a return on equity of 7.64%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. Equities research analysts forecast that Equity Residential will post $1.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were issued a $0.5038 dividend. This represents a $2.02 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, June 22nd. Equity Residential’s dividend payout ratio is 90.58%.
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Several research firms have recently weighed in on EQR. UBS AG downgraded shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research note on Thursday, July 6th. BidaskClub upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. TheStreet upgraded shares of Equity Residential from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Finally, Barclays PLC lifted their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Equity Residential has an average rating of “Hold” and a consensus target price of $67.92.
A number of large investors have recently added to or reduced their stakes in EQR. Bessemer Group Inc. raised its stake in Equity Residential by 124.6% in the second quarter. Bessemer Group Inc. now owns 1,572 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 872 shares in the last quarter. Financial Architects Inc raised its stake in Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 94 shares in the last quarter. D.A. Davidson & CO. raised its stake in Equity Residential by 4.1% in the second quarter. D.A. Davidson & CO. now owns 1,873 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 73 shares in the last quarter. Delta Asset Management LLC TN raised its stake in Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 57 shares in the last quarter. Finally, Girard Partners LTD. purchased a new stake in Equity Residential during the second quarter valued at about $209,000. 92.39% of the stock is owned by institutional investors.
Equity Residential Company Profile
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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