Equity Residential (EQR) Expected to Announce Quarterly Sales of $645.43 Million
Equities analysts expect Equity Residential (NYSE:EQR) to announce sales of $645.43 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Equity Residential’s earnings. The highest sales estimate is $655.94 million and the lowest is $637.04 million. Equity Residential reported sales of $630.70 million during the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The company is scheduled to announce its next quarterly earnings results on Tuesday, January 29th.
According to Zacks, analysts expect that Equity Residential will report full year sales of $2.56 billion for the current fiscal year, with estimates ranging from $2.55 billion to $2.58 billion. For the next financial year, analysts forecast that the business will post sales of $2.63 billion, with estimates ranging from $2.61 billion to $2.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Equity Residential.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.23). Equity Residential had a net margin of 26.01% and a return on equity of 6.37%. The firm had revenue of $652.87 million during the quarter, compared to analyst estimates of $645.77 million. During the same period in the previous year, the company posted $0.37 earnings per share. Equity Residential’s revenue was up 4.6% compared to the same quarter last year.
In other Equity Residential news, Vice Chairman Gerald A. Spector sold 13,024 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $67.50, for a total value of $879,120.00. Following the completion of the transaction, the insider now owns 294,287 shares in the company, valued at $19,864,372.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ian Kaufman sold 5,075 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $67.75, for a total value of $343,831.25. The disclosure for this sale can be found here. Insiders sold 48,769 shares of company stock valued at $3,308,451 in the last quarter. 3.75% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in shares of Equity Residential by 9.4% in the third quarter. Russell Investments Group Ltd. now owns 1,638,295 shares of the real estate investment trust’s stock valued at $107,791,000 after buying an additional 140,334 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Equity Residential by 22.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 161,813 shares of the real estate investment trust’s stock valued at $10,725,000 after buying an additional 29,410 shares in the last quarter. Lenox Wealth Management Inc. purchased a new position in shares of Equity Residential in the third quarter valued at $426,000. IFM Investors Pty Ltd increased its position in shares of Equity Residential by 14.2% in the third quarter. IFM Investors Pty Ltd now owns 18,833 shares of the real estate investment trust’s stock valued at $1,248,000 after buying an additional 2,348 shares in the last quarter. Finally, Oakbrook Investments LLC increased its position in shares of Equity Residential by 36.8% in the third quarter. Oakbrook Investments LLC now owns 20,804 shares of the real estate investment trust’s stock valued at $1,378,000 after buying an additional 5,600 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.
Shares of NYSE EQR traded down $1.22 during mid-day trading on Friday, hitting $64.84. 2,238,172 shares of the company were exchanged, compared to its average volume of 1,799,122. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.13 and a quick ratio of 0.16. Equity Residential has a 1-year low of $54.97 and a 1-year high of $70.46. The company has a market cap of $23.88 billion, a PE ratio of 20.72, a P/E/G ratio of 3.34 and a beta of 0.37.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Monday, September 24th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.33%. The ex-dividend date was Friday, September 21st. Equity Residential’s payout ratio is 69.01%.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 304 properties consisting of 78,645 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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