Equity Residential (EQR) to Release Quarterly Earnings on Tuesday

Equity Residential (NYSE:EQR) will post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Equity Residential to post earnings of $0.90 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.18). The firm had revenue of $727.50 million for the quarter, compared to analysts’ expectations of $725.07 million. Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. On average, analysts expect Equity Residential to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Equity Residential Stock Performance

EQR stock opened at $61.54 on Monday. The firm has a market cap of $23.32 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.57 and a beta of 0.84. The firm has a 50-day simple moving average of $61.51 and a two-hundred day simple moving average of $59.68. Equity Residential has a one year low of $52.57 and a one year high of $69.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.30 and a current ratio of 0.30.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.39%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, March 22nd. Equity Residential’s dividend payout ratio is presently 122.73%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EQR. Mizuho decreased their price target on shares of Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group reissued a “buy” rating and set a $70.00 price target on shares of Equity Residential in a research report on Thursday, February 22nd. Barclays decreased their price target on shares of Equity Residential from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Raymond James raised shares of Equity Residential from an “underperform” rating to a “market perform” rating in a research report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equity Residential in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.32.

Insider Activity

In related news, COO Michael L. Manelis sold 1,639 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.43, for a total value of $97,405.77. Following the transaction, the chief operating officer now owns 31,053 shares in the company, valued at approximately $1,845,479.79. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Ian Kaufman sold 716 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $41,384.80. Following the transaction, the chief accounting officer now owns 23,949 shares in the company, valued at approximately $1,384,252.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Michael L. Manelis sold 1,639 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.43, for a total transaction of $97,405.77. Following the completion of the transaction, the chief operating officer now owns 31,053 shares in the company, valued at approximately $1,845,479.79. The disclosure for this sale can be found here. Insiders have sold a total of 3,280 shares of company stock worth $192,335 over the last 90 days. 1.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equity Residential

Hedge funds and other institutional investors have recently made changes to their positions in the company. Money Concepts Capital Corp acquired a new stake in shares of Equity Residential during the 4th quarter worth approximately $29,000. First Horizon Advisors Inc. grew its stake in shares of Equity Residential by 229.8% during the 1st quarter. First Horizon Advisors Inc. now owns 554 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 386 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of Equity Residential during the 4th quarter worth approximately $57,000. Covestor Ltd grew its stake in shares of Equity Residential by 742.0% during the 1st quarter. Covestor Ltd now owns 1,263 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 1,113 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Equity Residential during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Company Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.