Investors Buy Equity Residential (EQR) on Weakness

Traders bought shares of Equity Residential (NYSE:EQR) on weakness during trading on Thursday. $34.21 million flowed into the stock on the tick-up and $9.21 million flowed out of the stock on the tick-down, for a money net flow of $25.00 million into the stock. Of all companies tracked, Equity Residential had the 30th highest net in-flow for the day. Equity Residential traded down ($0.26) for the day and closed at $67.65

Several research analysts have weighed in on EQR shares. TheStreet raised Equity Residential from a “c+” rating to a “b” rating in a research report on Monday, July 31st. BidaskClub upgraded Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Bank of America Corporation upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, June 16th. Argus set a $75.00 target price on Equity Residential and gave the stock a “buy” rating in a research note on Thursday, April 27th. Finally, 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 note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Equity Residential currently has an average rating of “Hold” and an average target price of $67.92.

The stock has a market capitalization of $24.85 billion, a price-to-earnings ratio of 30.27 and a beta of 0.34. The stock’s 50 day moving average is $66.68 and its 200-day moving average is $64.67.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The firm had revenue of $612.48 million during the quarter, compared to analyst estimates of $609.37 million. During the same period last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts predict that Equity Residential will post $1.43 earnings per share for the current fiscal year.

In related news, insider Michael L. Manelis sold 433 shares of Equity Residential stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $29,023.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark S. Shapiro sold 2,853 shares of Equity Residential stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $67.30, for a total value of $192,006.90. Following the sale, the director now directly owns 2,573 shares of the company’s stock, valued at approximately $173,162.90. The disclosure for this sale can be found here. Insiders sold 59,124 shares of company stock valued at $3,945,054 over the last ninety days. Corporate insiders own 3.79% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. 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, Sun Life Financial INC raised its stake in Equity Residential by 22,450.0% in the second quarter. Sun Life Financial INC now owns 2,706 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 2,694 shares in the last quarter. 91.81% of the stock is owned by institutional investors.

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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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