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Equity Residential (NYSE:EQR) Chairman Gerald A. Spector sold 72,939 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $65.50, for a total transaction of $4,777,504.50. Following the completion of the transaction, the chairman now directly owns 273,121 shares of the company’s stock, valued at approximately $17,889,426. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

A number of research firms have recently commented on EQR. 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 investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $61.37.

Shares of Equity Residential (NYSE:EQR) traded down 0.40% during mid-day trading on Tuesday, hitting $64.90. The stock had a trading volume of 1,092,709 shares. Equity Residential has a one year low of $50.08 and a one year high of $66.77. The stock has a 50-day moving average of $64.33 and a 200-day moving average of $60.49. The company has a market cap of $23.477 billion and a P/E ratio of 34.73.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue 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.

Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).

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