Equity Residential’s executive VP sells shares worth $683,760

Michael L. Manelis, Executive Vice President and COO of Equity Residential (NYSE:EQR), a prominent player in the Residential REITs industry with a market capitalization of $27.9 billion, recently disclosed the sale of company shares. According to InvestingPro analysis, EQR is currently trading above its Fair Value. According to the SEC filing, Manelis sold a total of 9,487 shares on February 6, 2025, at prices ranging from $72.06 to $72.09 per share. The total value of these transactions amounted to approximately $683,760. The company maintains strong financials with an "GOOD" overall health score according to InvestingPro metrics, and has maintained dividend payments for 33 consecutive years.

Additionally, Manelis acquired 6,070 common shares of beneficial interest on February 5, 2025, at no cost. These shares are part of a restricted stock award scheduled to vest on February 5, 2028, as noted in the filing.

Following these transactions, Manelis holds 26,781 shares directly, with additional holdings in a Supplemental Executive Retirement Plan account.

In other recent news, Equity Residential has been subject to several analyst adjustments and internal developments. UBS has maintained a Buy rating on Equity Residential, setting a price target of $84. The rating was based on the company’s fourth-quarter 2024 results and its 2025 guidance, indicating a stable demand environment. In contrast, Stifel analysts reduced their price target for the company from $85.00 to $82.25 following the company’s fourth-quarter financial performance, which deviated slightly from expectations due to increased expenses. Still, Stifel maintained a Buy rating on the stock.

Equity Residential has also established a new executive severance plan and expanded its commercial paper note program, as disclosed in a recent SEC 8-K filing. The severance plan is designed to provide structured severance benefits for key management employees in the event of non-change in control termination. The company’s operating partnership, ERP Operating Limited Partnership, increased its commercial paper program limit from $1 billion to $1.5 billion, allowing for the issuance of additional unsecured notes.

CFRA raised Equity Residential’s price target from $81.00 to $84.00, maintaining a "Buy" rating based on confidence in the improvement of the company’s rental markets in the upcoming year. The firm’s forecasts for Equity Residential’s funds from operations (FFO) remain unchanged at $3.90 for 2024 and $4.05 for 2025. These are the latest developments for Equity Residential.

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