Insider Selling: Equity Residential COO Sells 25,244 Shares of Stock (EQR)
Equity Residential (NYSE:EQR) COO David S. Santee sold 25,244 shares of Equity Residential stock on the open market in a transaction dated Friday, August 8th. The stock was sold at an average price of $65.00, for a total value of $1,640,860.00. Following the sale, the chief operating officer now directly owns 25,960 shares in the company, valued at approximately $1,687,400. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Equity Residential (NYSE:EQR) traded up 0.22% during mid-day trading on Monday, hitting $65.16. 1,118,637 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 has a 50-day moving average of $64.25 and a 200-day moving average of $60.36. The company has a market cap of $23.559 billion and a P/E ratio of 38.82.
Equity Residential (NYSE:EQR) last announced its earnings results 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. Analysts expect that Equity Residential will post $3.09 EPS 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.37.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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