Equity Residential (NYSE:EQR) – Analysts at SunTrust Banks reduced their Q1 2018 EPS estimates for shares of Equity Residential in a research note issued to investors on Monday, March 19th, according to Zacks Investment Research. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will earn $0.78 per share for the quarter, down from their prior forecast of $0.80. SunTrust Banks has a “Buy” rating and a $66.00 price objective on the stock. SunTrust Banks also issued estimates for Equity Residential’s Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $0.82 EPS, Q4 2018 earnings at $0.85 EPS, FY2018 earnings at $3.25 EPS, Q1 2019 earnings at $0.84 EPS, Q2 2019 earnings at $0.84 EPS, Q3 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.88 EPS, FY2019 earnings at $3.41 EPS, FY2020 earnings at $3.48 EPS, FY2021 earnings at $3.49 EPS and FY2022 earnings at $3.55 EPS.
Other equities research analysts have also issued reports about the company. UBS raised Equity Residential from a “neutral” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, March 19th. Mizuho set a $67.00 target price on Equity Residential and gave the company a “buy” rating in a research report on Friday, February 9th. Edward Jones raised Equity Residential from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Sandler O’Neill reaffirmed a “hold” rating and set a $65.00 target price on shares of Equity Residential in a research report on Tuesday, March 20th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $65.00 target price on shares of Equity Residential in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $66.82.
NYSE EQR traded down $1.08 on Wednesday, reaching $61.45. 2,581,710 shares of the stock traded hands, compared to its average volume of 2,651,399. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.86. The firm has a market cap of $23,084.23, a PE ratio of 19.63, a price-to-earnings-growth ratio of 3.27 and a beta of 0.34. Equity Residential has a 12 month low of $54.97 and a 12 month high of $70.46.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.47). The firm had revenue of $630.50 million for the quarter, compared to the consensus estimate of $625.83 million. Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Monday, March 26th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.52%. This is an increase from Equity Residential’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 23rd. Equity Residential’s payout ratio is 69.01%.
In related news, EVP Scott Fenster sold 449 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total transaction of $26,122.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark J. Parrell sold 7,355 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $427,913.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,077 shares of company stock worth $819,000. 3.79% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Equity Residential by 1.0% during the 4th quarter. BlackRock Inc. now owns 36,016,443 shares of the real estate investment trust’s stock valued at $2,296,769,000 after purchasing an additional 341,071 shares during the last quarter. APG Asset Management US Inc. grew its stake in Equity Residential by 0.4% during the 4th quarter. APG Asset Management US Inc. now owns 15,122,000 shares of the real estate investment trust’s stock valued at $964,330,000 after purchasing an additional 61,600 shares during the last quarter. Cohen & Steers Inc. grew its stake in Equity Residential by 109.4% during the 3rd quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after purchasing an additional 7,600,203 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Equity Residential by 1.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,800,736 shares of the real estate investment trust’s stock valued at $497,453,000 after purchasing an additional 76,542 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Equity Residential by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,198,439 shares of the real estate investment trust’s stock valued at $342,732,000 after purchasing an additional 97,505 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.
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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 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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