Research Analysts Offer Predictions for Equity Residential’s Q2 2017 Earnings (EQR)
Equity Residential (NYSE:EQR) – Equities research analysts at Jefferies Group issued their Q2 2017 earnings per share (EPS) estimates for Equity Residential in a report released on Friday. Jefferies Group analyst O. Okusanya expects that the real estate investment trust will post earnings per share of $0.77 for the quarter. Jefferies Group has a “Hold” rating and a $67.00 price target on the stock. Jefferies Group also issued estimates for Equity Residential’s FY2018 earnings at $3.37 EPS.
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, hitting the consensus estimate of $0.74. The business had revenue of $604.10 million for the quarter, compared to analyst estimates of $605.69 million. Equity Residential had a return on equity of 7.46% and a net margin of 35.18%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. WARNING: This news story was first reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/17/research-analysts-offer-predictions-for-equity-residentials-q2-2017-earnings-eqr.html.
A number of other research analysts also recently weighed in on EQR. Zacks Investment Research downgraded Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, March 21st. Barclays PLC reiterated an “equal weight” rating and set a $64.00 target price (up previously from $62.00) on shares of Equity Residential in a report on Wednesday, April 19th. Evercore ISI upped their target price on Equity Residential from $62.00 to $63.00 and gave the stock an “underperform” rating in a report on Wednesday, April 19th. Cantor Fitzgerald reiterated a “hold” rating and set a $63.00 target price on shares of Equity Residential in a report on Wednesday, April 26th. Finally, Argus set a $75.00 target price on Equity Residential and gave the stock a “buy” rating in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. Equity Residential has a consensus rating of “Hold” and an average target price of $67.27.
Equity Residential (NYSE EQR) opened at 65.46 on Monday. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 28.46 and a beta of 0.33. Equity Residential has a one year low of $58.28 and a one year high of $70.75. The firm has a 50-day moving average price of $66.31 and a 200 day moving average price of $63.89.
A number of large investors have recently modified their holdings of EQR. Financial Architects Inc increased its position in 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 increased 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 worth $125,000 after buying an additional 57 shares during the last quarter. Integrated Investment Consultants LLC acquired a new position in shares of Equity Residential during the first quarter worth approximately $129,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Equity Residential during the first quarter worth approximately $218,000. Finally, Anchor Capital Advisors LLC increased its position in shares of Equity Residential by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 91.96% of the company’s stock.
In other Equity Residential news, insider Michael L. Manelis sold 1,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $65.63, for a total value of $65,630.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan W. George sold 28,157 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $65.93, for a total value of $1,856,391.01. The disclosure for this sale can be found here. Insiders sold a total of 44,871 shares of company stock valued at $2,979,034 over the last 90 days. 3.79% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were paid a $0.5038 dividend. The ex-dividend date was Thursday, June 22nd. This represents a $2.02 annualized dividend and a dividend yield of 3.08%. Equity Residential’s dividend payout ratio (DPR) is 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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