Brokerages predict that Equity Residential (NYSE:EQR) will report earnings per share (EPS) of $0.85 for the current quarter, according to Zacks. Seven analysts have issued estimates for Equity Residential’s earnings. The lowest EPS estimate is $0.84 and the highest is $0.88. Equity Residential posted earnings per share of $0.81 in the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The company is scheduled to announce its next quarterly earnings report on Tuesday, July 23rd.
According to Zacks, analysts expect that Equity Residential will report full-year earnings of $3.40 per share for the current fiscal year, with EPS estimates ranging from $3.38 to $3.41. For the next year, analysts expect that the company will post earnings of $3.54 per share, with EPS estimates ranging from $3.50 to $3.62. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Equity Residential.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.53). Equity Residential had a net margin of 21.10% and a return on equity of 5.31%. The company had revenue of $662.30 million during the quarter, compared to the consensus estimate of $655.00 million. During the same period in the previous year, the firm posted $0.77 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year.
EQR has been the topic of a number of research reports. Evercore ISI lowered shares of Equity Residential from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. Mizuho lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 price objective on the stock. in a research report on Wednesday, January 23rd. Barclays boosted their price objective on shares of Equity Residential from $73.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Argus boosted their price objective on shares of Equity Residential to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $69.00 price objective on shares of Equity Residential in a research report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $72.48.
In related news, insider Alexander Brackenridge sold 17,702 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $73.25, for a total transaction of $1,296,671.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Gerald A. Spector sold 12,938 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $75.00, for a total transaction of $970,350.00. Following the transaction, the insider now owns 290,065 shares in the company, valued at $21,754,875. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,997 shares of company stock worth $15,013,752. 3.75% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Equity Residential by 2.3% during the first quarter. BlackRock Inc. now owns 42,189,362 shares of the real estate investment trust’s stock worth $3,177,704,000 after buying an additional 942,825 shares during the last quarter. Norges Bank acquired a new position in shares of Equity Residential in the fourth quarter valued at $1,249,322,000. FMR LLC increased its holdings in shares of Equity Residential by 15.8% in the first quarter. FMR LLC now owns 10,042,326 shares of the real estate investment trust’s stock valued at $756,387,000 after purchasing an additional 1,373,126 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Equity Residential by 0.4% in the first quarter. Northern Trust Corp now owns 6,770,425 shares of the real estate investment trust’s stock valued at $509,949,000 after purchasing an additional 28,685 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Equity Residential by 4.1% in the first quarter. Geode Capital Management LLC now owns 6,335,389 shares of the real estate investment trust’s stock valued at $476,506,000 after purchasing an additional 246,966 shares during the last quarter. Institutional investors and hedge funds own 92.04% of the company’s stock.
EQR traded down $0.19 during trading on Thursday, reaching $76.62. The company had a trading volume of 1,173,966 shares, compared to its average volume of 953,261. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.13 and a current ratio of 0.13. Equity Residential has a 12 month low of $59.29 and a 12 month high of $77.69. The firm has a market cap of $28.39 billion, a P/E ratio of 23.58, a PEG ratio of 3.81 and a beta of 0.58.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today’s renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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