Equities research analysts predict that Equity Residential (NYSE:EQR) will announce $0.82 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Equity Residential’s earnings. The lowest EPS estimate is $0.81 and the highest is $0.84. Equity Residential reported earnings of $0.80 per share in the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The business is expected to report its next earnings results on Tuesday, October 23rd.
On average, analysts expect that Equity Residential will report full-year earnings of $3.24 per share for the current year, with EPS estimates ranging from $3.21 to $3.29. For the next fiscal year, analysts anticipate that the business will post earnings of $3.38 per share, with EPS estimates ranging from $3.31 to $3.48. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Equity Residential.
Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. Equity Residential had a return on equity of 5.63% and a net margin of 23.27%. The business had revenue of $639.62 million during the quarter, compared to analyst estimates of $637.34 million. During the same quarter last year, the company posted $0.77 EPS. Equity Residential’s revenue for the quarter was up 4.5% on a year-over-year basis.
Several brokerages recently issued reports on EQR. ValuEngine raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Stifel Nicolaus increased their price objective on Equity Residential from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Morgan Stanley reduced their price objective on Equity Residential from $66.50 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, June 14th. Mizuho reissued a “buy” rating and issued a $76.00 price objective on shares of Equity Residential in a research note on Monday, August 6th. Finally, Bank of America increased their price objective on Equity Residential from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Equity Residential has a consensus rating of “Hold” and an average target price of $67.07.
Equity Residential traded down $0.93, hitting $65.96, during mid-day trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 958,237 shares, compared to its average volume of 1,566,956. The company has a market cap of $24.63 billion, a P/E ratio of 21.07, a P/E/G ratio of 3.47 and a beta of 0.43. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.84. Equity Residential has a 52-week low of $54.97 and a 52-week high of $70.46.
The company also recently declared a quarterly dividend, which was paid on Friday, July 13th. Stockholders of record on Monday, June 25th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Friday, June 22nd. Equity Residential’s dividend payout ratio (DPR) is presently 69.01%.
In other news, insider David S. Santee sold 1,928 shares of the firm’s stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $61.55, for a total transaction of $118,668.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David J. Neithercut sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $64.50, for a total value of $1,612,500.00. The disclosure for this sale can be found here. 3.75% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Global X Management Co. LLC grew its holdings in Equity Residential by 20.5% in the 1st quarter. Global X Management Co. LLC now owns 12,494 shares of the real estate investment trust’s stock valued at $770,000 after buying an additional 2,122 shares during the last quarter. FDx Advisors Inc. acquired a new stake in Equity Residential in the 1st quarter valued at approximately $531,000. Wells Fargo & Company MN grew its holdings in Equity Residential by 16.1% in the 1st quarter. Wells Fargo & Company MN now owns 1,031,578 shares of the real estate investment trust’s stock valued at $63,566,000 after buying an additional 142,963 shares during the last quarter. American Assets Investment Management LLC grew its holdings in Equity Residential by 13.6% in the 1st quarter. American Assets Investment Management LLC now owns 25,000 shares of the real estate investment trust’s stock valued at $1,541,000 after buying an additional 3,000 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in Equity Residential by 51.1% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 13,444 shares of the real estate investment trust’s stock valued at $828,000 after buying an additional 4,549 shares during the last quarter. 92.18% of the stock is owned by institutional investors.
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 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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