Equity Residential EVP Sells $100,005 in Stock (EQR)
Equity Residential (NYSE:EQR) EVP Mark N. Tennison sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $66.67, for a total value of $100,005.00. Following the completion of the transaction, the executive vice president now directly owns 10,881 shares in the company, valued at approximately $725,436. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Equity Residential (NYSE:EQR) traded up 0.42% during mid-day trading on Wednesday, hitting $67.09. The stock had a trading volume of 1,069,306 shares. Equity Residential has a 52 week low of $50.08 and a 52 week high of $67.31. The stock’s 50-day moving average is $64.90 and its 200-day moving average is $60.97. The company has a market cap of $24.269 billion and a price-to-earnings ratio of 35.61.
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 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 $3.10 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Equity Residential in a research note on Wednesday. They now have a $66.00 price target on the stock, up previously from $64.00. Separately, analysts at Jefferies Group upgraded shares of Equity Residential from an “underperform” rating to a “hold” rating in a research note on Monday. They now have a $62.00 price target on the stock, up previously from $55.00. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Equity Residential has a consensus rating of “Hold” and a consensus target price of $61.97.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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