Equity Residential (NYSE:EQR) Expected to Post Earnings of $0.83 Per Share

Wall Street analysts expect Equity Residential (NYSE:EQR) to post $0.83 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Equity Residential’s earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.92. Equity Residential reported earnings per share of $0.86 during the same quarter last year, which suggests a negative year over year growth rate of 3.5%. The firm is scheduled to report its next earnings report on Tuesday, August 4th.

According to Zacks, analysts expect that Equity Residential will report full-year earnings of $3.41 per share for the current fiscal year, with EPS estimates ranging from $2.98 to $3.67. For the next financial year, analysts anticipate that the business will post earnings of $3.56 per share, with EPS estimates ranging from $3.23 to $3.88. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Equity Residential.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The company had revenue of $682.31 million for the quarter, compared to the consensus estimate of $686.02 million. Equity Residential had a return on equity of 11.20% and a net margin of 43.16%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share.

A number of brokerages have commented on EQR. BTIG Research raised Equity Residential from a “neutral” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Tuesday, March 10th. Zelman & Associates raised Equity Residential from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Deutsche Bank reduced their target price on Equity Residential from $76.00 to $68.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Robert W. Baird raised Equity Residential from an “underperform” rating to a “neutral” rating and set a $73.00 target price for the company in a report on Tuesday, March 17th. Finally, Piper Sandler reduced their target price on Equity Residential from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Thursday, May 14th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $74.67.

EQR traded down $0.53 during midday trading on Friday, reaching $57.40. 2,835,280 shares of the company were exchanged, compared to its average volume of 2,820,919. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.36. The company’s fifty day moving average price is $62.80 and its 200 day moving average price is $75.84. The company has a market cap of $21.56 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 3.69 and a beta of 0.67. Equity Residential has a one year low of $49.62 and a one year high of $89.55.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in Equity Residential by 17.3% during the first quarter. The Manufacturers Life Insurance Company now owns 411,037 shares of the real estate investment trust’s stock valued at $25,365,000 after purchasing an additional 60,569 shares during the period. FDx Advisors Inc. bought a new position in Equity Residential during the first quarter valued at $341,000. Eii Capital Management Inc. grew its holdings in Equity Residential by 14.1% during the first quarter. Eii Capital Management Inc. now owns 77,755 shares of the real estate investment trust’s stock valued at $4,798,000 after purchasing an additional 9,636 shares during the period. APG Asset Management N.V. grew its holdings in Equity Residential by 316.3% during the first quarter. APG Asset Management N.V. now owns 420,423 shares of the real estate investment trust’s stock valued at $25,944,000 after purchasing an additional 319,437 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in shares of Equity Residential by 78.9% during the first quarter. Voloridge Investment Management LLC now owns 166,134 shares of the real estate investment trust’s stock worth $10,252,000 after acquiring an additional 73,281 shares in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.

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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