Equity Residential to Post FY2018 Earnings of $3.22 Per Share, Cantor Fitzgerald Forecasts (EQR)
Equity Residential (NYSE:EQR) – Cantor Fitzgerald issued their FY2018 earnings estimates for shares of Equity Residential in a research report issued to clients and investors on Friday. Cantor Fitzgerald analyst G. Mehta forecasts that the real estate investment trust will earn $3.22 per share for the year. Cantor Fitzgerald has a “Hold” rating and a $63.00 price objective on the stock.
EQR has been the subject of a number of other research reports. Evercore ISI downgraded shares of Equity Residential from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. Zacks Investment Research downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, March 7th. Bank of America Corporation raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, June 16th. Jefferies Group LLC reissued a “hold” rating and set a $61.00 target price on shares of Equity Residential in a research report on Tuesday, May 30th. Finally, TheStreet downgraded shares of Equity Residential from a “b” rating to a “c+” rating in a research report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $66.79.
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Shares of Equity Residential (NYSE EQR) traded up 0.25% during trading on Monday, reaching $67.38. 23,500 shares of the company traded hands. The company has a 50-day moving average of $65.89 and a 200-day moving average of $63.67. The stock has a market capitalization of $24.74 billion, a PE ratio of 29.30 and a beta of 0.34. Equity Residential has a 12 month low of $58.28 and a 12 month high of $71.53.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. Equity Residential had a net margin of 35.18% and a return on equity of 7.46%. The firm had revenue of $604.10 million during the quarter, compared to the consensus estimate of $605.69 million. During the same period last year, the firm posted $0.76 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis.
Institutional investors have recently modified their holdings of the stock. Financial Architects Inc boosted its position in shares of Equity Residential by 5.9% in the first quarter. Financial Architects Inc now owns 1,694 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 94 shares during the period. Delta Asset Management LLC TN boosted its position in shares of Equity Residential by 2.9% in the first quarter. Delta Asset Management LLC TN now owns 2,012 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 57 shares during the period. Integrated Investment Consultants LLC bought a new position in shares of Equity Residential during the first quarter valued at $129,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Equity Residential during the fourth quarter valued at $200,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Equity Residential during the first quarter valued at $218,000. Institutional investors and hedge funds own 95.31% of the company’s stock.
In other Equity Residential news, insider Alan W. George sold 28,157 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $65.93, for a total transaction of $1,856,391.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael L. Manelis sold 1,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $65.63, for a total value of $65,630.00. The disclosure for this sale can be found here. In the last three months, insiders sold 44,871 shares of company stock valued at $2,979,034. 3.79% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, June 26th will be given a $0.5038 dividend. This represents a $2.02 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, June 22nd. Equity Residential’s payout ratio is currently 88.21%.
Equity Residential Company Profile
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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