Equity Residential (EQR) Issues Q4 Earnings Guidance
Equity Residential (NYSE:EQR) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.79-0.83 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.81.
Equity Residential (NYSE:EQR) traded down 1.32% on Tuesday, reaching $65.79. 2,009,707 shares of the company’s stock were exchanged. The firm 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 has a 50-day moving average of $66.75 and a 200-day moving average of $66.32.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The company had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. During the same period in the prior year, the firm earned $0.76 earnings per share. Equity Residential’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts expect that Equity Residential will post $1.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, September 25th were given a dividend of $0.5038 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, September 22nd. Equity Residential’s payout ratio is 90.58%.
EQR has been the topic of a number of research reports. BidaskClub lowered Equity Residential from a buy rating to a hold rating in a research report on Saturday, July 1st. UBS AG lowered Equity Residential from a buy rating to a neutral rating and set a $68.00 target price on the stock. in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a hold rating and set a $67.00 target price on shares of Equity Residential in a research report on Monday, July 17th. Zacks Investment Research raised Equity Residential from a hold rating to a buy rating and set a $74.00 target price on the stock in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed a hold rating on shares of Equity Residential in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $68.38.
In related news, insider Michael L. Manelis sold 433 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total value of $29,023.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bruce C. Strohm sold 10,000 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $68.50, for a total value of $685,000.00. The disclosure for this sale can be found here. Insiders sold a total of 173,622 shares of company stock valued at $11,816,599 over the last three months. 3.79% of the stock is currently owned by insiders.
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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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