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In a recent transaction, Robert Garechana, the Executive Vice President and Chief Financial Officer of Equity Residential (NYSE:EQR), acquired additional shares of the company. On March 17, 2025, Garechana purchased 4 common shares of beneficial interest at a price of $69.81 per share, totaling $279. The purchase comes as the $28 billion residential REIT maintains its 33-year streak of consistent dividend payments, currently yielding 3.9%. According to InvestingPro analysis, the company’s stock is currently trading above its Fair Value. This acquisition brings his direct ownership to 14,112 shares.
Additionally, Garechana holds shares indirectly through various plans. He owns 162 shares through the Equity Residential Advantage 401(k) Retirement Savings Plan, which includes shares acquired through profit sharing contributions and dividend reinvestment activities. Furthermore, he holds 7,093 shares in a Supplemental Executive Retirement Plan (SERP) account managed by Principal Trust Company. These holdings reflect Garechana’s continued commitment to the company’s success.
In other recent news, Equity Residential has been in the spotlight due to its fourth-quarter 2024 financial results and subsequent analyst evaluations. The company reported a normalized Funds From Operations (FFO) per share of $1.00, which was slightly below Stifel’s estimate by $0.01 but aligned with broader consensus estimates. Stifel responded by lowering its price target for Equity Residential from $85.00 to $82.25, although it maintained a Buy rating on the stock, indicating continued confidence in its value. UBS also reaffirmed a Buy rating with a price target of $84.00, citing stable demand and a supportive macroeconomic backdrop as positive indicators for the company’s future. Equity Residential’s fourth-quarter blended spreads met projections at 1.0%, though they showed a deceleration from the previous quarter. Despite a 4.3% drop in new leases due to seasonal supply pressures, the company’s occupancy rates remained robust at 96.1%. Analysts like UBS’s Michael Goldsmith foresee potential improvements in the supply and demand outlook for 2025, which could benefit Equity Residential’s valuation.
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