Insider Selling: Equity Residential CFO Sells 16,805 Shares of Stock (EQR)
Equity Residential (NYSE:EQR) CFO Mark J. Parrell sold 16,805 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $66.39, for a total value of $1,115,683.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
EQR has been the subject of a number of recent research reports. 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 analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.97.
Equity Residential (NYSE:EQR) traded down 1.19% on Friday, hitting $66.30. The stock had a trading volume of 253,545 shares. Equity Residential has a 1-year low of $50.08 and a 1-year high of $67.43. The stock has a 50-day moving average of $65.0 and a 200-day moving average of $61.01. The company has a market cap of $23.983 billion and a P/E ratio of 35.77.
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 $3.10 earnings per share for the current fiscal year.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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