Equity Residential (NYSE:EQR) COO Michael L. Manelis sold 8,672 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $82.00, for a total value of $711,104.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Michael L. Manelis also recently made the following trade(s):

  • On Thursday, May 23rd, Michael L. Manelis sold 1,449 shares of Equity Residential stock. The shares were sold at an average price of $77.00, for a total value of $111,573.00.

Shares of EQR stock traded up $0.19 on Wednesday, hitting $82.63. 625,600 shares of the stock were exchanged, compared to its average volume of 1,340,874. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $30.28 billion, a PE ratio of 25.42, a P/E/G ratio of 3.98 and a beta of 0.51. Equity Residential has a one year low of $62.40 and a one year high of $83.11. The firm’s 50 day moving average is $79.34 and its two-hundred day moving average is $76.41.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.02). The firm had revenue of $669.37 million for the quarter, compared to the consensus estimate of $667.59 million. Equity Residential had a return on equity of 7.21% and a net margin of 28.27%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. On average, sell-side analysts expect that Equity Residential will post 3.45 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Magnetar Financial LLC bought a new stake in Equity Residential in the second quarter worth $301,000. Prudential PLC lifted its position in Equity Residential by 15.0% in the second quarter. Prudential PLC now owns 3,812 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 496 shares during the period. Royal Bank of Canada increased its holdings in Equity Residential by 153.7% in the second quarter. Royal Bank of Canada now owns 292,693 shares of the real estate investment trust’s stock valued at $22,221,000 after buying an additional 177,342 shares in the last quarter. UBS Group AG increased its holdings in Equity Residential by 20.7% in the second quarter. UBS Group AG now owns 503,359 shares of the real estate investment trust’s stock valued at $38,215,000 after buying an additional 86,269 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in Equity Residential in the second quarter valued at about $348,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Several analysts recently commented on the company. Argus upped their target price on Equity Residential to $84.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Morgan Stanley upped their target price on Equity Residential from $70.00 to $79.00 and gave the company an “equal weight” rating in a report on Thursday, June 27th. Finally, Zacks Investment Research upgraded Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.57.

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 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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Insider Buying and Selling by Quarter for Equity Residential (NYSE:EQR)

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