Equity Residential (NYSE:EQR) CFO Sells $309,425.64 in Stock

Equity Residential (NYSE:EQR - Get Free Report) CFO Robert Garechana sold 4,294 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $309,425.64. Following the completion of the transaction, the chief financial officer now directly owns 14,108 shares in the company, valued at approximately $1,016,622.48. This represents a 23.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Equity Residential Stock Up 0.7 %

Shares of EQR stock traded up $0.53 during mid-day trading on Tuesday, hitting $71.44. The stock had a trading volume of 1,234,972 shares, compared to its average volume of 1,711,158. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The firm has a market capitalization of $27.11 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 4.49 and a beta of 0.93. The firm's 50-day moving average is $70.83 and its two-hundred day moving average is $72.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.13.

Equity Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Thursday, January 2nd. Equity Residential's dividend payout ratio is 99.26%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EQR shares. Wells Fargo & Company lowered their price target on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Scotiabank lowered their price target on Equity Residential from $81.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Evercore ISI lifted their price objective on Equity Residential from $74.00 to $76.00 and gave the stock an "in-line" rating in a research note on Monday. Royal Bank of Canada reduced their price objective on Equity Residential from $83.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com raised Equity Residential from a "sell" rating to a "hold" rating in a research note on Saturday. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $78.36.

Institutional Investors Weigh In On Equity Residential

Hedge funds have recently made changes to their positions in the company. Maryland Capital Advisors Inc. purchased a new stake in shares of Equity Residential in the 3rd quarter worth $25,000. SRS Capital Advisors Inc. lifted its holdings in shares of Equity Residential by 607.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust's stock worth $26,000 after buying an additional 310 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential during the 3rd quarter worth $29,000. Brooklyn Investment Group purchased a new stake in shares of Equity Residential during the 3rd quarter worth $33,000. Finally, Assetmark Inc. lifted its stake in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 430 shares during the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Company Profile

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.