Equity Residential (NYSE:EQR) Expected to Announce Earnings of $0.89 Per Share

Analysts expect Equity Residential (NYSE:EQR) to report $0.89 earnings per share for the current quarter, Zacks reports. Eight analysts have provided estimates for Equity Residential’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.87. Equity Residential reported earnings per share of $0.83 in the same quarter last year, which suggests a positive year over year growth rate of 7.2%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, October 22nd.

On average, analysts expect that Equity Residential will report full year earnings of $3.45 per share for the current financial year, with EPS estimates ranging from $3.43 to $3.47. For the next financial year, analysts forecast that the company will report earnings of $3.60 per share, with EPS estimates ranging from $3.53 to $3.66. Zacks’ EPS calculations are an average based on a survey of research firms that follow Equity Residential.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The firm had revenue of $669.37 million for the quarter, compared to analyst estimates of $667.59 million. Equity Residential had a return on equity of 7.21% and a net margin of 28.27%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share.

A number of equities analysts have weighed in on EQR shares. ValuEngine cut shares of Equity Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. SunTrust Banks upped their price objective on shares of Equity Residential from $74.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Monday, August 12th. Finally, Morgan Stanley upped their price objective on shares of Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $77.97.

In other news, insider Alexander Brackenridge sold 11,612 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $79.89, for a total transaction of $927,682.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ian Kaufman sold 15,072 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.00, for a total transaction of $1,205,760.00. The disclosure for this sale can be found here. Insiders have sold 186,876 shares of company stock worth $15,221,779 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc bought a new position in shares of Equity Residential during the second quarter worth about $34,000. Advisory Services Network LLC lifted its holdings in Equity Residential by 14.9% in the second quarter. Advisory Services Network LLC now owns 3,517 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 457 shares during the last quarter. Tiemann Investment Advisors LLC bought a new position in Equity Residential in the first quarter worth about $204,000. Cibc World Markets Corp lifted its holdings in Equity Residential by 31.4% in the second quarter. Cibc World Markets Corp now owns 64,380 shares of the real estate investment trust’s stock worth $4,888,000 after acquiring an additional 15,393 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Equity Residential by 0.4% in the first quarter. Northern Trust Corp now owns 6,770,425 shares of the real estate investment trust’s stock worth $509,949,000 after acquiring an additional 28,685 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of EQR stock traded up $0.29 on Monday, reaching $87.76. 900,339 shares of the stock were exchanged, compared to its average volume of 1,395,441. The stock has a market cap of $32.29 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 4.21 and a beta of 0.47. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $85.07 and a two-hundred day moving average of $79.15. Equity Residential has a 1-year low of $62.40 and a 1-year high of $88.08.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.5675 per share. This is a boost from Equity Residential’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, September 27th. This represents a $2.27 annualized dividend and a dividend yield of 2.59%. Equity Residential’s dividend payout ratio (DPR) is presently 69.85%.

Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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

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