Equity Residential (NYSE:EQR) COO Sells $683,728.09 in Stock

Equity Residential (NYSE:EQR) COO Michael L. Manelis sold 9,487 shares of Equity Residential stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the sale, the chief operating officer now owns 26,781 shares in the company, valued at $1,930,106.67. The trade was a 26.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Equity Residential Price Performance

NYSE:EQR traded down $0.76 during trading hours on Friday, hitting $71.36. 1,374,746 shares of the company’s stock traded hands, compared to its average volume of 1,762,525. The business’s fifty day simple moving average is $71.02 and its two-hundred day simple moving average is $72.70. Equity Residential has a 52 week low of $57.33 and a 52 week high of $78.83. The firm has a market cap of $27.08 billion, a P/E ratio of 29.25, a P/E/G ratio of 4.35 and a beta of 0.93. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.70 annualized dividend and a yield of 3.78%. Equity Residential’s payout ratio is presently 110.66%.

Hedge Funds Weigh In On Equity Residential

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its position in Equity Residential by 7.6% during the second quarter. Creative Planning now owns 16,647 shares of the real estate investment trust’s stock valued at $1,154,000 after acquiring an additional 1,174 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 200 shares during the period. Truist Financial Corp grew its stake in shares of Equity Residential by 2.3% in the second quarter. Truist Financial Corp now owns 12,768 shares of the real estate investment trust’s stock worth $885,000 after purchasing an additional 289 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Equity Residential by 3.0% during the second quarter. Cetera Investment Advisers now owns 46,353 shares of the real estate investment trust’s stock valued at $3,214,000 after buying an additional 1,344 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Equity Residential during the 2nd quarter valued at $796,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EQR. Barclays lowered their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Scotiabank dropped their price objective on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Wells Fargo & Company dropped their price target on Equity Residential from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Finally, Mizuho decreased their price objective on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and an average target price of $78.36.

About Equity Residential

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.