Insider Selling: Equity Residential EVP Sells 1,500 Shares of Stock (EQR)
Equity Residential (NYSE:EQR) EVP Mark N. Tennison unloaded 1,500 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Equity Residential (NYSE:EQR) traded down 0.77% during mid-day trading on Friday, hitting $66.58. 277,894 shares of the company’s stock traded hands. 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 $24.085 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 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.71 earnings per share. Equity Residential’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Equity Residential will post $3.10 earnings per share for the current fiscal year.
A number of research firms have recently commented on EQR. 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 investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.97.
Equity Residential (NYSE:EQR) is a real estate investment trust (REIT).
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