Equity Residential (EQR) Set to Announce Earnings on Tuesday

Equity Residential (NYSE:EQR) is set to post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Equity Residential to post earnings of $0.90 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.18). Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The business had revenue of $727.50 million during the quarter, compared to analysts’ expectations of $725.07 million. During the same quarter in the previous year, the company posted $0.94 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, analysts expect Equity Residential to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Equity Residential Trading Down 1.7 %

EQR opened at $60.66 on Tuesday. Equity Residential has a one year low of $52.57 and a one year high of $69.45. The company has a market cap of $23.02 billion, a P/E ratio of 27.57, a PEG ratio of 3.58 and a beta of 0.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.30 and a current ratio of 0.30. The business’s 50-day simple moving average is $61.38 and its 200-day simple moving average is $59.61.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were issued a $0.675 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. Equity Residential’s dividend payout ratio is presently 122.73%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays dropped their price target on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Equity Residential in a research note on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target on the stock. Raymond James upgraded Equity Residential from an “underperform” rating to a “market perform” rating in a research note on Monday, March 18th. Piper Sandler reaffirmed a “neutral” rating and set a $62.00 price objective on shares of Equity Residential in a research report on Tuesday, March 26th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Equity Residential in a research report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.32.

Insider Activity

In other news, CAO Ian Kaufman sold 716 shares of Equity Residential stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $41,384.80. Following the completion of the sale, the chief accounting officer now owns 23,949 shares of the company’s stock, valued at $1,384,252.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Robert Garechana sold 876 shares of Equity Residential stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the transaction, the chief financial officer now owns 20,933 shares in the company, valued at $1,209,927.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ian Kaufman sold 716 shares of Equity Residential stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $41,384.80. Following the completion of the transaction, the chief accounting officer now owns 23,949 shares in the company, valued at approximately $1,384,252.20. The disclosure for this sale can be found here. Insiders sold a total of 3,280 shares of company stock valued at $192,335 over the last quarter. Company insiders own 1.69% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQR. Money Concepts Capital Corp acquired a new position in shares of Equity Residential during the fourth quarter worth about $29,000. First Horizon Advisors Inc. lifted its stake in shares of Equity Residential by 229.8% during the first quarter. First Horizon Advisors Inc. now owns 554 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 386 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of Equity Residential during the fourth quarter worth about $57,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Equity Residential during the fourth quarter worth about $76,000. Finally, KB Financial Partners LLC acquired a new position in shares of Equity Residential during the first quarter worth about $90,000. Institutional investors and hedge funds own 92.68% 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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.