Equity Residential (NYSE:EQR) – Research analysts at Jefferies Financial Group reduced their Q1 2021 earnings estimates for shares of Equity Residential in a research note issued to investors on Wednesday, January 13th. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $0.75 for the quarter, down from their prior forecast of $0.78. Jefferies Financial Group also issued estimates for Equity Residential’s Q2 2021 earnings at $0.79 EPS, Q3 2021 earnings at $0.80 EPS, Q4 2021 earnings at $0.81 EPS, FY2021 earnings at $3.16 EPS, Q1 2022 earnings at $0.81 EPS, Q3 2022 earnings at $0.87 EPS, Q4 2022 earnings at $0.88 EPS, FY2022 earnings at $3.43 EPS and FY2023 earnings at $3.64 EPS.
Several other analysts have also issued reports on EQR. Wells Fargo & Company began coverage on shares of Equity Residential in a research report on Tuesday, October 20th. They set an “equal weight” rating and a $54.00 target price for the company. UBS Group dropped their price target on shares of Equity Residential from $63.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. ValuEngine upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Morgan Stanley upped their price target on shares of Equity Residential from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, November 20th. Finally, BTIG Research upped their price target on shares of Equity Residential from $72.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, November 12th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.18.
Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.58). Equity Residential had a net margin of 35.97% and a return on equity of 8.89%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be given a $0.6025 dividend. The ex-dividend date is Thursday, December 31st. This represents a $2.41 dividend on an annualized basis and a yield of 4.05%. Equity Residential’s payout ratio is 69.05%.
In other news, EVP Alexander Brackenridge sold 7,244 shares of the firm’s stock in a transaction dated Monday, December 28th. The stock was sold at an average price of $58.95, for a total value of $427,033.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. lifted its position in shares of Equity Residential by 306.6% in the 2nd quarter. Baird Financial Group Inc. now owns 15,806 shares of the real estate investment trust’s stock worth $1,005,000 after acquiring an additional 11,919 shares during the period. Private Advisor Group LLC acquired a new position in shares of Equity Residential during the second quarter valued at $57,000. AQR Capital Management LLC boosted its stake in Equity Residential by 4.7% during the second quarter. AQR Capital Management LLC now owns 739,032 shares of the real estate investment trust’s stock valued at $42,487,000 after buying an additional 33,326 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Equity Residential by 16.0% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 1,584 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 218 shares during the period. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Equity Residential in the 2nd quarter valued at approximately $5,066,000. Hedge funds and other institutional investors own 78.77% of the company’s stock.
About Equity Residential
Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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