Equity Residential (EQR) Announces Quarterly Earnings Results
Equity Residential (NYSE:EQR) issued its earnings results on Tuesday. The real estate investment trust reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.48, Bloomberg Earnings reports. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%.
Shares of Equity Residential (NYSE:EQR) traded down 1.32% during mid-day trading on Tuesday, reaching $65.79. The company had a trading volume of 2,009,707 shares. The company has a market capitalization of $24.17 billion, a price-to-earnings ratio of 29.44 and a beta of 0.37. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The firm’s 50-day moving average is $66.75 and its 200 day moving average is $66.30.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, September 25th were paid a dividend of $0.5038 per share. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $2.02 annualized dividend and a yield of 3.06%. Equity Residential’s payout ratio is 90.58%.
In other Equity Residential news, insider David S. Santee sold 10,967 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $67.93, for a total transaction of $744,988.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael L. Manelis sold 433 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total value of $29,023.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,622 shares of company stock worth $11,816,599. Company insiders own 3.79% of the company’s stock.
Several research analysts have weighed in on EQR shares. Stifel Nicolaus started coverage on Equity Residential in a research report on Friday, September 1st. They issued a “hold” rating and a $71.00 target price on the stock. Barclays PLC upped their target price on Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $70.00 target price on shares of Equity Residential in a research report on Friday. BidaskClub lowered Equity Residential from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $68.00 target price on shares of Equity Residential in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $68.38.
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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