Brokerages predict that Equity Residential (NYSE:EQR) will announce earnings of $0.85 per share for the current quarter, Zacks reports. 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 would indicate a positive year-over-year growth rate of 4.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, July 23rd.
On average, analysts expect that Equity Residential will report full-year earnings of $3.40 per share for the current year, with EPS estimates ranging from $3.38 to $3.41. For the next fiscal year, analysts forecast that the business will report earnings of $3.54 per share, with EPS estimates ranging from $3.50 to $3.62. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Equity Residential.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.53). The company had revenue of $662.30 million for the quarter, compared to analyst estimates of $655.00 million. Equity Residential had a net margin of 21.10% and a return on equity of 5.31%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $0.77 EPS.
A number of brokerages have issued reports on EQR. Argus lifted their target price on shares of Equity Residential to $84.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Barclays lifted their target price on shares of Equity Residential from $73.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Raymond James raised shares of Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 target price for the company in a research note on Thursday, April 11th. Zacks Investment Research lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Finally, Evercore ISI lowered shares of Equity Residential from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $72.52.
Shares of NYSE:EQR traded up $0.33 during trading on Friday, reaching $78.26. 1,153,539 shares of the company traded hands, compared to its average volume of 1,102,353. The firm has a market capitalization of $28.88 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 3.87 and a beta of 0.54. Equity Residential has a 1-year low of $61.67 and a 1-year high of $78.54. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.88.
In other news, Vice Chairman Gerald A. Spector sold 12,938 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were 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 approximately $21,754,875. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alan W. George sold 30,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $77.24, for a total transaction of $2,317,200.00. Following the transaction, the insider now owns 86,582 shares in the company, valued at approximately $6,687,593.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 199,118 shares of company stock valued at $15,185,655. Company insiders own 3.75% of the company’s stock.
Large investors have recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in shares of Equity Residential during the 4th quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Equity Residential during the 1st quarter worth about $30,000. Rational Advisors LLC bought a new stake in Equity Residential in the fourth quarter valued at about $31,000. Braun Bostich & Associates Inc. increased its stake in Equity Residential by 38.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 142 shares during the period. Finally, Liberty Wealth Management LLC bought a new stake in Equity Residential in the fourth quarter valued at about $38,000. Institutional investors own 88.05% of the company’s stock.
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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