Brokerages Anticipate Equity Residential (NYSE:EQR) to Announce $0.68 EPS

Wall Street brokerages expect that Equity Residential (NYSE:EQR) will report earnings per share (EPS) of $0.68 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Equity Residential’s earnings, with the lowest EPS estimate coming in at $0.67 and the highest estimate coming in at $0.69. Equity Residential posted earnings per share of $0.87 during the same quarter last year, which would indicate a negative year-over-year growth rate of 21.8%. The business is expected to announce its next earnings report after the market closes on Tuesday, April 27th.

According to Zacks, analysts expect that Equity Residential will report full-year earnings of $2.74 per share for the current fiscal year, with EPS estimates ranging from $2.68 to $2.78. For the next year, analysts forecast that the firm will report earnings of $2.92 per share, with EPS estimates ranging from $2.75 to $3.08. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Equity Residential.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Wednesday, February 10th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.06). Equity Residential had a net margin of 35.97% and a return on equity of 8.89%. The company had revenue of $613.40 million for the quarter, compared to analysts’ expectations of $612.00 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year.

Several research firms have recently weighed in on EQR. Zelman & Associates upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Tuesday, March 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a $58.00 price objective (down previously from $59.00) on shares of Equity Residential in a report on Tuesday, March 30th. Truist lowered Equity Residential from a “buy” rating to a “hold” rating in a report on Friday, March 19th. Mizuho lifted their price objective on Equity Residential from $68.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, March 15th. Finally, Smith Barney Citigroup lifted their price objective on Equity Residential in a report on Tuesday, December 15th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Equity Residential presently has a consensus rating of “Hold” and an average price target of $65.44.

In other news, COO Michael L. Manelis sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $72.92, for a total value of $729,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christa L. Sorenson sold 343 shares of the business’s stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $73.00, for a total value of $25,039.00. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Berman Capital Advisors LLC raised its position in Equity Residential by 22.6% during the fourth quarter. Berman Capital Advisors LLC now owns 851 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 157 shares during the period. Motco raised its position in Equity Residential by 4.2% during the fourth quarter. Motco now owns 4,100 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 165 shares during the period. Assetmark Inc. raised its position in Equity Residential by 3.5% during the fourth quarter. Assetmark Inc. now owns 5,073 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 170 shares during the period. Lederer & Associates Investment Counsel CA raised its position in Equity Residential by 4.4% during the fourth quarter. Lederer & Associates Investment Counsel CA now owns 4,122 shares of the real estate investment trust’s stock valued at $244,000 after purchasing an additional 173 shares during the period. Finally, Allstate Corp raised its position in Equity Residential by 1.2% during the fourth quarter. Allstate Corp now owns 15,116 shares of the real estate investment trust’s stock valued at $896,000 after purchasing an additional 174 shares during the period. Institutional investors own 85.60% of the company’s stock.

Shares of EQR stock traded down $0.75 during mid-day trading on Friday, hitting $71.39. The company’s stock had a trading volume of 1,086,468 shares, compared to its average volume of 2,568,721. Equity Residential has a 52-week low of $45.42 and a 52-week high of $76.13. The business has a 50-day moving average price of $71.04 and a 200 day moving average price of $61.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $26.60 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 3.92 and a beta of 0.81.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 9th. Stockholders of record on Monday, March 29th were given a $0.6025 dividend. The ex-dividend date was Friday, March 26th. This represents a $2.41 annualized dividend and a dividend yield of 3.38%. Equity Residential’s payout ratio is 69.05%.

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

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