Equity Residential CEO Unloads $2,811,798 in Stock (EQR)
Equity Residential (NYSE:EQR) CEO David J. Neithercut sold 42,603 shares of the stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $66.00, for a total transaction of $2,811,798.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $61.37.
Equity Residential (NYSE:EQR) traded down 0.14% on Friday, hitting $65.68. 2,729,870 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 $64. and its 200-day moving average is $60.57. The company has a market cap of $23.759 billion and a P/E ratio of 35.06.
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. On average, analysts predict that Equity Residential will post $3.09 earnings per share for the current fiscal year.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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