Equity Residential (NYSE:EQR) Expected to Post Earnings of $0.74 Per Share

Brokerages expect that Equity Residential (NYSE:EQR) will announce $0.74 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Equity Residential’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.75. Equity Residential posted earnings per share of $0.77 in the same quarter last year, which indicates a negative year over year growth rate of 3.9%. The firm is expected to report its next earnings results on Tuesday, October 26th.

On average, analysts expect that Equity Residential will report full year earnings of $2.88 per share for the current year, with EPS estimates ranging from $2.74 to $2.93. For the next fiscal year, analysts forecast that the firm will report earnings of $3.15 per share, with EPS estimates ranging from $2.97 to $3.31. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Equity Residential.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, July 27th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.14. The company had revenue of $598.06 million during the quarter, compared to analyst estimates of $597.49 million. Equity Residential had a net margin of 29.53% and a return on equity of 6.75%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS.

A number of brokerages have recently weighed in on EQR. BMO Capital Markets raised shares of Equity Residential from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $72.00 to $89.00 in a research note on Tuesday, June 1st. Mizuho lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $86.00 target price for the company. in a research note on Thursday, June 3rd. Morgan Stanley increased their target price on shares of Equity Residential from $85.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 5th. BTIG Research increased their target price on shares of Equity Residential from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, August 2nd. They noted that the move was a valuation call. Finally, Wells Fargo & Company increased their target price on shares of Equity Residential from $77.00 to $84.00 and gave the company an “equal weight” rating in a research note on Thursday, August 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Equity Residential currently has a consensus rating of “Hold” and a consensus target price of $80.14.

In other Equity Residential news, Director David J. Neithercut sold 1,721 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $85.00, for a total value of $146,285.00. Following the transaction, the director now owns 3,392 shares in the company, valued at approximately $288,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Norinchukin Bank The increased its stake in Equity Residential by 0.4% in the 1st quarter. Norinchukin Bank The now owns 34,166 shares of the real estate investment trust’s stock valued at $2,447,000 after buying an additional 139 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Equity Residential by 12.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,276 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 145 shares during the last quarter. Sandy Spring Bank increased its stake in shares of Equity Residential by 62.4% during the 2nd quarter. Sandy Spring Bank now owns 406 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 156 shares during the last quarter. Advisor Partners LLC increased its stake in shares of Equity Residential by 2.8% during the 2nd quarter. Advisor Partners LLC now owns 5,778 shares of the real estate investment trust’s stock worth $445,000 after purchasing an additional 156 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Equity Residential by 3.1% during the 1st quarter. Assetmark Inc. now owns 5,230 shares of the real estate investment trust’s stock worth $375,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Shares of NYSE:EQR traded down $0.17 during trading on Tuesday, reaching $81.78. The company had a trading volume of 1,321,405 shares, compared to its average volume of 2,109,437. The firm’s fifty day moving average is $83.18 and its 200 day moving average is $77.55. The firm has a market capitalization of $30.62 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 7.53 and a beta of 0.78. Equity Residential has a twelve month low of $45.42 and a twelve month high of $86.04. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.22 and a current ratio of 0.22.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 9th. Shareholders of record on Monday, June 28th were paid a $0.6025 dividend. The ex-dividend date was Friday, June 25th. This represents a $2.41 annualized dividend and a yield of 2.95%. Equity Residential’s dividend payout ratio is presently 73.93%.

About Equity Residential

Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H.

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Earnings History and Estimates for Equity Residential (NYSE:EQR)

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