Zacks: Analysts Expect Equity Residential (NYSE:EQR) Will Post Earnings of $0.79 Per Share
Equities research analysts forecast that Equity Residential (NYSE:EQR) will post $0.79 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Equity Residential’s earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.78. Equity Residential posted earnings per share of $0.78 in the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The company is expected to announce its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Equity Residential will report full-year earnings of $3.11 per share for the current year, with EPS estimates ranging from $3.09 to $3.13. For the next year, analysts anticipate that the firm will report earnings of $3.26 per share, with EPS estimates ranging from $3.20 to $3.37. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Equity Residential.
Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. The business had revenue of $612.48 million for the quarter, compared to the consensus estimate of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.76 earnings per share.
A number of research analysts recently commented on EQR shares. Evercore ISI increased their price target on shares of Equity Residential from $62.00 to $63.00 and gave the company an “underperform” rating in a report on Wednesday, April 19th. Barclays PLC increased their price target on shares of Equity Residential from $65.00 to $66.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $66.00 price target on shares of Equity Residential in a report on Thursday, May 25th. Zacks Investment Research raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Finally, BidaskClub downgraded shares of Equity Residential from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $68.08.
In related news, insider Michael L. Manelis sold 1,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $65.63, for a total value of $65,630.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alan W. George sold 28,157 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $65.93, for a total transaction of $1,856,391.01. The disclosure for this sale can be found here. Insiders sold a total of 55,838 shares of company stock worth $3,724,023 over the last three months. 3.79% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Anchor Capital Advisors LLC raised its stake in 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 period. Delta Asset Management LLC TN raised its stake in 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 period. Financial Architects Inc raised its stake 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 worth $106,000 after buying an additional 94 shares during the period. Cleararc Capital Inc. raised its stake in Equity Residential by 1.1% in the first quarter. Cleararc Capital Inc. now owns 8,993 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 100 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in Equity Residential by 0.4% in the first quarter. Oppenheimer & Co. Inc. now owns 27,252 shares of the real estate investment trust’s stock worth $1,695,000 after buying an additional 120 shares during the period. 92.09% of the stock is currently owned by institutional investors.
Equity Residential (NYSE:EQR) traded up 0.03% on Friday, hitting $67.32. The stock had a trading volume of 1,057,330 shares. The company’s 50 day moving average price is $66.69 and its 200 day moving average price is $64.31. Equity Residential has a 52-week low of $58.28 and a 52-week high of $68.83. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 30.09 and a beta of 0.34.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 26th were issued a $0.5038 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Thursday, June 22nd. Equity Residential’s payout ratio is 90.58%.
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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