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NEW YORK ( TheStreet) -- Equity Residential (NYSE: EQR) hit a new 52-week high Friday as it is currently trading at $64.49, above its previous 52-week high of $64.38 with 129,854 shares traded as of 10:05 a.m. ET. Average volume has been two million shares over the past 30 days. Equity has a market cap of $18.95 billion and is part of the financial sector and real estate industry. Shares are up 10.5% year to date as of the close of trading on Thursday. Equity Residential, a real estate investment trust (REIT), engages in the acquisition, development, and management of multifamily properties in the United States. The company has a P/E ratio of 210.1, equal to the average real estate industry P/E ratio and above the S&P 500 P/E ratio of 17.7.