The following are the top stories on the New York Times business pages on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy. * The Lehman estate agreed on Monday to sell Archstone, a sprawling apartment complex company, to its two biggest real estate rivals - Equity Residential, a company run by the investor Samuel Zell, and AvalonBay Communities - for about $6.5 billion in cash and stock.()
AvalonBay Communities, Inc. (AvalonBay) is a real estate investment trust (REIT). Shares of AVB traded higher by 0.32% or $0.41/share to $128.95. In the past year, the shares have traded as low as $117.97 and as high as $151.23. On average, 603745 shares of AVB exchange hands on a given day and today's volume is recorded at 520958.
Equity Residential (EQR) is a real estate investment trust (REIT). Shares of EQR fell by 0.06% or $-0.03/share to $54.43. In the past year, the shares have traded as low as $52.39 and as high as $65.72. On average, 1624860 shares of EQR exchange hands on a given day and today's volume is recorded at 1496174.
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