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

Wall Street analysts predict that Equity Residential (NYSE:EQR) will post earnings per share of $0.74 for the current quarter, Zacks reports. Five analysts have provided 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 reported earnings per share of $0.77 during the same quarter last year, which suggests a negative year-over-year growth rate of 3.9%. The firm is expected to report its next earnings report on Tuesday, October 26th.

According to Zacks, analysts expect that Equity Residential will report full year earnings of $2.88 per share for the current fiscal year, with EPS estimates ranging from $2.74 to $2.93. For the next financial year, analysts forecast that the business will report earnings of $3.15 per share, with EPS estimates ranging from $2.97 to $3.31. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Equity Residential.

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

EQR has been the subject of several recent research reports. Barclays initiated coverage on Equity Residential in a research note on Wednesday, September 1st. They issued an “equal weight” rating and a $87.00 price objective for the company. TheStreet raised Equity Residential from a “c” rating to a “b-” rating in a research note on Tuesday, July 27th. Morgan Stanley upped their price objective on Equity Residential from $85.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 5th. Royal Bank of Canada upped their price objective on Equity Residential from $78.00 to $84.00 and gave the company a “sector perform” rating in a research note on Thursday, July 29th. Finally, Wells Fargo & Company upped their price objective on 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 given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $80.14.

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

Several institutional investors have recently bought and sold shares of EQR. Dimensional Fund Advisors LP boosted its holdings in shares of Equity Residential by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,044,651 shares of the real estate investment trust’s stock worth $358,325,000 after buying an additional 98,338 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Equity Residential by 39.7% in the 1st quarter. Meeder Asset Management Inc. now owns 3,142 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 893 shares in the last quarter. Greenleaf Trust bought a new position in shares of Equity Residential in the 1st quarter worth $216,000. Signaturefd LLC lifted its holdings in shares of Equity Residential by 28.3% in the 1st quarter. Signaturefd LLC now owns 2,599 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 574 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in shares of Equity Residential by 10.0% in the 1st quarter. Raymond James Trust N.A. now owns 5,675 shares of the real estate investment trust’s stock worth $406,000 after purchasing an additional 515 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

NYSE EQR traded down $0.17 during trading on Tuesday, hitting $81.78. 1,321,405 shares of the company’s stock were exchanged, compared to its average volume of 2,109,437. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.78. The company has a market cap of $30.62 billion, a PE ratio of 42.91, a P/E/G ratio of 7.53 and a beta of 0.78. Equity Residential has a fifty-two week low of $45.42 and a fifty-two week high of $86.04. The stock’s 50 day moving average price is $83.18 and its two-hundred day moving average price is $77.55.

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