Equity Residential (EQR) Releases FY17 Earnings Guidance
Equity Residential (NYSE:EQR) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.08-3.14 for the period, compared to the Thomson Reuters consensus estimate of $3.11. Equity Residential also updated its Q3 guidance to $0.77-0.81 EPS.
A number of equities analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of Equity Residential from $62.00 to $63.00 and gave the stock an underperform rating in a research note on Wednesday, April 19th. Zacks Investment Research cut shares of Equity Residential from a hold rating to a sell rating in a research note on Wednesday, April 5th. UBS AG cut shares of Equity Residential from a buy rating to a neutral rating and set a $68.00 price target on the stock. in a research note on Thursday, July 6th. BMO Capital Markets reaffirmed a hold rating and set a $66.00 price target on shares of Equity Residential in a research note on Thursday, May 25th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $67.00 price target on shares of Equity Residential in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. Equity Residential presently has an average rating of Hold and a consensus target price of $67.67.
Equity Residential (NYSE EQR) traded down 0.87% on Tuesday, reaching $66.07. 1,942,938 shares of the company’s stock were exchanged. The stock has a market capitalization of $24.26 billion, a P/E ratio of 28.73 and a beta of 0.33. Equity Residential has a 1-year low of $58.28 and a 1-year high of $69.90. The firm’s 50 day moving average is $66.66 and its 200 day moving average is $64.16.
Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.42. The firm had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a return on equity of 7.46% and a net margin of 35.18%. Equity Residential’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. Analysts expect that Equity Residential will post $1.37 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were issued a dividend of $0.5038 per share. This represents a $2.02 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s payout ratio is currently 88.21%.
In related news, insider Michael L. Manelis sold 1,000 shares of Equity Residential stock in a transaction dated 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 legal filing with the SEC, which is available at this link. Also, insider Alan W. George sold 28,157 shares of Equity Residential stock in a transaction dated 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 worth $2,979,034 in the last three months. 3.79% of the stock is currently owned by company insiders.
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About Equity Residential
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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