Equity Residential (NYSE:EQR) – Equities researchers at Jefferies Group cut their FY2019 earnings per share (EPS) estimates for shares of Equity Residential in a report issued on Tuesday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will earn $3.58 per share for the year, down from their prior forecast of $3.60.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.42). Equity Residential had a net margin of 30.88% and a return on equity of 7.22%.

EQR has been the subject of several other reports. BMO Capital Markets reaffirmed a “hold” rating and set a $69.00 target price on shares of Equity Residential in a report on Monday, November 27th. Edward Jones raised Equity Residential from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird reaffirmed a “hold” rating and set a $65.00 target price on shares of Equity Residential in a report on Tuesday, January 9th. Mizuho raised Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a report on Monday, November 6th. Finally, Zacks Investment Research downgraded Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six 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 $69.13.

Shares of Equity Residential (NYSE EQR) traded up $0.18 during midday trading on Wednesday, hitting $60.85. The stock had a trading volume of 1,745,385 shares, compared to its average volume of 1,742,009. Equity Residential has a twelve month low of $59.49 and a twelve month high of $70.46. The stock has a market capitalization of $22,330.00, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 2.93 and a beta of 0.36. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 0.24.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were paid a $0.5038 dividend. This represents a $2.02 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, December 29th. Equity Residential’s dividend payout ratio is currently 69.66%.

In related news, CFO Mark J. Parrell sold 1,600 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $68.01, for a total value of $108,816.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Samuel Zell sold 91,651 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $67.17, for a total value of $6,156,197.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 402,380 shares of company stock valued at $27,663,622. Company insiders own 3.79% of the company’s stock.

A number of institutional investors have recently made changes to their positions in EQR. Federated Investors Inc. PA lifted its stake in Equity Residential by 79.2% in the 2nd quarter. Federated Investors Inc. PA now owns 8,329 shares of the real estate investment trust’s stock worth $548,000 after acquiring an additional 3,680 shares in the last quarter. Schroder Investment Management Group lifted its stake in Equity Residential by 12.9% in the 2nd quarter. Schroder Investment Management Group now owns 27,706 shares of the real estate investment trust’s stock worth $1,837,000 after acquiring an additional 3,168 shares in the last quarter. Profund Advisors LLC lifted its stake in Equity Residential by 20.4% in the 2nd quarter. Profund Advisors LLC now owns 23,163 shares of the real estate investment trust’s stock worth $1,525,000 after acquiring an additional 3,928 shares in the last quarter. Investec Asset Management LTD lifted its stake in Equity Residential by 43.3% in the 2nd quarter. Investec Asset Management LTD now owns 13,560 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in Equity Residential by 4.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 44,741 shares of the real estate investment trust’s stock worth $2,945,000 after acquiring an additional 1,887 shares in the last quarter. 94.04% of the stock is owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Equity Residential (NYSE:EQR)

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