Equity Residential Forecasted to Post Q2 2017 Earnings of $0.77 Per Share (EQR)

Equity Residential (NYSE:EQR) – Equities researchers at Jefferies Group issued their Q2 2017 earnings per share (EPS) estimates for Equity Residential in a note issued to investors on Friday. Jefferies Group analyst O. Okusanya forecasts that the real estate investment trust will post earnings of $0.77 per share for the quarter. Jefferies Group has a “Hold” rating and a $67.00 price target on the stock. Jefferies Group also issued estimates for Equity Residential’s FY2018 earnings at $3.37 EPS.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. Equity Residential had a return on equity of 7.46% and a net margin of 35.18%. The firm had revenue of $604.10 million for the quarter, compared to the consensus estimate of $605.69 million. During the same period in the prior year, the firm earned $0.76 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. TRADEMARK VIOLATION WARNING: “Equity Residential Forecasted to Post Q2 2017 Earnings of $0.77 Per Share (EQR)” was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://sportsperspectives.com/2017/07/18/equity-residential-forecasted-to-post-q2-2017-earnings-of-0-77-per-share-eqr.html.

A number of other research analysts have also commented on EQR. UBS AG lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Thursday, July 6th. BMO Capital Markets reiterated a “hold” rating and set a $66.00 price target on shares of Equity Residential in a research note on Thursday, May 25th. Barclays PLC reiterated a “hold” rating and set a $65.00 price target on shares of Equity Residential in a research note on Tuesday, May 16th. Zacks Investment Research lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Finally, Bank of America Corporation upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.27.

Equity Residential (NYSE:EQR) opened at 66.25 on Monday. The company has a 50 day moving average price of $66.31 and a 200 day moving average price of $63.89. The firm has a market capitalization of $24.32 billion, a P/E ratio of 28.80 and a beta of 0.33. Equity Residential has a 52-week low of $58.28 and a 52-week high of $70.75.

Several hedge funds have recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. increased its stake in shares of Equity Residential by 525.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 61,036 shares of the real estate investment trust’s stock valued at $4,018,000 after buying an additional 51,284 shares during the period. National Pension Service increased its stake in shares of Equity Residential by 14.4% in the second quarter. National Pension Service now owns 362,574 shares of the real estate investment trust’s stock valued at $24,039,000 after buying an additional 45,621 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Equity Residential by 2.7% in the second quarter. Xact Kapitalforvaltning AB now owns 45,070 shares of the real estate investment trust’s stock valued at $2,967,000 after buying an additional 1,192 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Equity Residential by 29.7% in the first quarter. Nuveen Asset Management LLC now owns 2,445,378 shares of the real estate investment trust’s stock valued at $152,151,000 after buying an additional 559,828 shares during the period. Finally, Piedmont Investment Advisors LLC increased its stake in shares of Equity Residential by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 75,596 shares of the real estate investment trust’s stock valued at $4,704,000 after buying an additional 657 shares during the period. 91.95% of the stock is currently owned by institutional investors.

In other Equity Residential news, insider Michael L. Manelis sold 1,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $65.63, for a total transaction of $65,630.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bruce C. Strohm sold 1,686 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $67.23, for a total transaction of $113,349.78. The disclosure for this sale can be found here. Insiders have sold 44,871 shares of company stock worth $2,979,034 over the last 90 days. 3.79% of the stock is currently owned by company insiders.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 26th were given a dividend of $0.5038 per share. The ex-dividend date was Thursday, June 22nd. This represents a $2.02 annualized dividend and a yield of 3.04%. Equity Residential’s payout ratio is currently 88.21%.

Equity Residential Company Profile

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

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

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