Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK) Announces Earnings Results, Beats Estimates By $0.83 EPS

Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK) issued its quarterly earnings results on Wednesday. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.83, Briefing.com reports. Vivmark Residential Common Shares of Beneficial Interest had a net margin of 27.97% and a return on equity of 8.06%. Vivmark Residential Common Shares of Beneficial Interest’s quarterly revenue was up 56.0% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS.

Vivmark Residential Common Shares of Beneficial Interest Trading Up 2.7%

NYSE:VMRK traded up $1.70 during trading hours on Wednesday, hitting $63.74. The company had a trading volume of 6,331,596 shares, compared to its average volume of 3,604,025. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $62.63. The firm has a market capitalization of $23.90 billion, a P/E ratio of 27.71, a P/E/G ratio of 3.61 and a beta of 0.72. Vivmark Residential Common Shares of Beneficial Interest has a 1 year low of $57.57 and a 1 year high of $71.50.

Vivmark Residential Common Shares of Beneficial Interest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, October 5th were paid a dividend of $0.7025 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $2.81 dividend on an annualized basis and a yield of 4.4%. Vivmark Residential Common Shares of Beneficial Interest’s payout ratio is 122.17%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Scotiabank reduced their price objective on Vivmark Residential Common Shares of Beneficial Interest from $70.00 to $66.00 and set a “sector perform” rating for the company in a research note on Thursday, September 17th. Piper Sandler dropped their price objective on shares of Vivmark Residential Common Shares of Beneficial Interest from $76.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. JPMorgan Chase & Co. initiated coverage on shares of Vivmark Residential Common Shares of Beneficial Interest in a research note on Monday, August 24th. They set a “neutral” rating and a $73.00 price objective for the company. Mizuho upgraded shares of Vivmark Residential Common Shares of Beneficial Interest from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $73.00 in a report on Tuesday, September 8th. Finally, BMO Capital Markets decreased their target price on shares of Vivmark Residential Common Shares of Beneficial Interest from $75.00 to $74.00 and set a “market perform” rating on the stock in a research note on Monday, August 24th. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.42.

Insider Activity

In related news, Director Christopher B. Howard sold 8,486 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $64.00, for a total transaction of $543,104.00. Following the completion of the sale, the director directly owned 12,730 shares of the company’s stock, valued at approximately $814,720. This trade represents a 40.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chris Carr sold 1,130 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $65.28, for a total transaction of $73,766.40. Following the completion of the sale, the director owned 4,461 shares in the company, valued at approximately $291,214.08. This trade represents a 20.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 58,286 shares of company stock valued at $3,735,822 in the last quarter. Insiders own 1.20% of the company’s stock.

About Vivmark Residential Common Shares of Beneficial Interest

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.