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Stephen E. Sterrett, a director at Equity Residential (NYSE:EQR), a prominent $27.9 billion market cap residential REIT, recently executed a series of stock transactions involving the company’s common shares of beneficial interest. On February 5, 2025, Sterrett sold 2,101 shares at an average price of $72.21 each, totaling approximately $151,713.
On the same day, Sterrett acquired 2,101 shares through the exercise of non-qualified stock options at a price of $68.40 per share, reflecting a total transaction value of $143,708. Following these transactions, Sterrett holds 19,395 shares directly and an additional 20,306 shares indirectly through a SERP account managed by Principal Trust Company. The stock currently trades at $71.31 with a P/E ratio of 26.16.
These moves are part of routine financial management by Sterrett, who maintains a significant stake in the real estate investment trust. According to InvestingPro, Equity Residential offers a 3.74% dividend yield and has maintained dividend payments for 33 consecutive years, though current analysis suggests the stock may be trading above its Fair Value.
In other recent news, Equity Residential has been the focus of various analysts’ reports. UBS analyst Michael Goldsmith confirmed a Buy rating on Equity Residential with a steady $84.00 price target, citing the company’s fourth-quarter 2024 results and its guidance for 2025 as signs of a stable demand environment. However, Stifel analysts adjusted their outlook on Equity Residential, reducing the price target from $85.00 to $82.25, while maintaining a Buy rating. This revision followed the company’s fourth-quarter financial performance, which showed a slight deviation from expectations due to an increase in expenses.
Simultaneously, Equity Residential has made strategic moves, such as establishing a new executive severance plan and expanding its commercial paper note program, according to its recent SEC 8-K filing. The severance plan aims to aid in executive retention and recruitment, while the expansion of the commercial paper program from $1 billion to $1.5 billion allows for the issuance of additional unsecured notes.
These are recent developments for Equity Residential, which also had its price target raised to $84 by CFRA due to market optimism. The firm maintains a "Buy" rating, expressing confidence in the improvement of Equity Residential’s rental markets in the upcoming year.
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