Equity Residential (EQR) to Release Earnings on Tuesday

Equity Residential (NYSE:EQRGet Free Report) is scheduled 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 that wish to register for the company’s earnings conference call can do so using this link.

Equity Residential (NYSE:EQRGet Free Report) last released its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.18). Equity Residential had a return on equity of 7.43% and a net margin of 29.07%. The company had revenue of $727.50 million for the quarter, compared to analyst estimates of $725.07 million. During the same period in the previous year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter 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 Up 0.9 %

EQR opened at $61.54 on Friday. Equity Residential has a 12 month low of $52.57 and a 12 month high of $69.45. The stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.30 and a quick ratio of 0.30. The business has a fifty day moving average price of $61.51 and a 200 day moving average price of $59.67.

Equity Residential Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were paid a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 4.39%. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, March 22nd. Equity Residential’s payout ratio is presently 122.73%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial lowered their target price on Equity Residential from $71.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Mizuho lowered their price objective on Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Barclays lowered their price objective on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research report on Monday, March 18th. Finally, Morgan Stanley upped their price objective on Equity Residential from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity Residential currently has an average rating of “Hold” and an average price target of $65.32.

Read Our Latest Report on EQR

Insider Activity

In other Equity Residential news, CFO Robert Garechana sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $50,632.80. Following the completion of the sale, the chief financial officer now directly owns 20,933 shares of the company’s stock, valued at approximately $1,209,927.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Equity Residential news, CFO Robert Garechana sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $50,632.80. Following the completion of the sale, the chief financial officer now directly owns 20,933 shares of the company’s stock, valued at approximately $1,209,927.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ian Kaufman sold 716 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 23,949 shares of the company’s stock, valued at $1,384,252.20. The disclosure for this sale can be found here. In the last three months, insiders sold 3,280 shares of company stock valued at $192,335. Insiders own 1.69% of the company’s stock.

Institutional Trading of Equity Residential

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQR. Bleakley Financial Group LLC purchased a new position in shares of Equity Residential during the 2nd quarter worth approximately $220,000. GSA Capital Partners LLP purchased a new position in shares of Equity Residential during the 4th quarter worth approximately $215,000. Lazard Asset Management LLC raised its stake in shares of Equity Residential by 54.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,204 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 776 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in shares of Equity Residential during the 2nd quarter worth approximately $125,000. Finally, Covestor Ltd raised its stake in shares of Equity Residential by 742.0% during the 1st quarter. Covestor Ltd now owns 1,263 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 1,113 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

About Equity Residential

(Get Free Report)

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.

Read More

Earnings History for Equity Residential (NYSE:EQR)

Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.