Insider Selling: Equity Residential Chairman Unloads 33,048 Shares of Stock (EQR)
Equity Residential (NYSE:EQR) Chairman Gerald A. Spector unloaded 33,048 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $65.32, for a total value of $2,158,695.36. Following the transaction, the chairman now directly owns 273,121 shares of the company’s stock, valued at approximately $17,840,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Equity Residential (NYSE:EQR) traded up 1.53% during mid-day trading on Monday, hitting $65.11. 1,567,185 shares of the company’s stock traded hands. Equity Residential has a 52 week low of $50.08 and a 52 week high of $66.77. The stock’s 50-day moving average is $63.65 and its 200-day moving average is $59.85. The company has a market cap of $23.541 billion and a price-to-earnings ratio of 38.29.
Equity Residential (NYSE:EQR) last released its earnings data on Tuesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. The company had revenue of $652.60 million for the quarter, compared to the consensus estimate of $644.28 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Equity Residential will post $3.09 earnings per share for the current fiscal year.
EQR has been the subject of a number of recent research reports. Analysts at ISI Group raised their price target on shares of Equity Residential from $3.00 to $67.00 in a research note on Wednesday, July 30th. Separately, analysts at Mizuho initiated coverage on shares of Equity Residential in a research note on Wednesday, July 23rd. They set a “neutral” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Equity Residential from $49.00 to $55.00 in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Equity Residential presently has a consensus rating of “Hold” and a consensus price target of $61.59.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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