Equity Residential (EQR) has risen sharply, recording gains of 5.71% in the past 4 weeks. However, the stock has corrected -1.32% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.29% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has recorded a 20-day Moving Average of 2.24% and the 50-Day Moving Average is 3.06%.
Equity Residential (NYSE:EQR): The stock opened at $70.55 on Friday but the bulls could not build on the opening and the stock topped out at $70.55 for the day. The stock traded down to $69.33 during the day, due to lack of any buying support eventually closed down at $69.57 with a loss of -1.25% for the day. The stock had closed at $70.45 on the previous day. The total traded volume was 1,461,960 shares.
The company Insiders own 3.9% of Equity Residential shares according to the proxy statements. Institutional Investors own 98.63% of Equity Residential shares. During last six month period, the net percent change held by insiders has seen a change of -10.86%. In a related news, Tennison Mark N, officer (Executive Vice President) of Equity Residential, unloaded 52,293 shares at an average price of $74.88 on March 29, 2016. The total amount of the transaction was worth $3,915,700, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Equity Residential is a real estate investment trust (REIT) focused on the acquisition, development and management of apartment properties in the United States growth markets. ERP Operating Limited Partnership (ERPOP) conducts the multifamily residential property business of Equity Residential. The Company is the general partner and owns an approximate 96.2% ownership interest in ERPOP. The remaining 3.8% interest is owned by limited partners. As of December 31, 2014, the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 391 properties located in 12 states and the District of Columbia consisting of 109,225 apartment units. All of the Companys property ownership, development and related business operations are conducted through ERPOP.