Equities research analysts expect Equity Residential (NYSE:EQR) to announce earnings of $0.81 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Equity Residential’s earnings. The lowest EPS estimate is $0.80 and the highest is $0.82. Equity Residential posted earnings of $0.77 per share during the same quarter last year, which would indicate a positive year over year growth rate of 5.2%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, April 30th.
On average, analysts expect that Equity Residential will report full-year earnings of $3.38 per share for the current fiscal year, with EPS estimates ranging from $3.32 to $3.43. For the next year, analysts forecast that the business will report earnings of $3.52 per share, with EPS estimates ranging from $3.45 to $3.66. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Equity Residential.
Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.54). The business had revenue of $652.55 million for the quarter, compared to the consensus estimate of $652.35 million. Equity Residential had a net margin of 25.50% and a return on equity of 6.31%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS.
Shares of Equity Residential stock traded up $0.23 during midday trading on Tuesday, reaching $76.20. 836,837 shares of the company’s stock traded hands, compared to its average volume of 1,332,310. The company has a market capitalization of $28.23 billion, a P/E ratio of 23.45, a P/E/G ratio of 3.78 and a beta of 0.59. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.85. Equity Residential has a 52 week low of $59.29 and a 52 week high of $77.64.
The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Monday, March 25th were paid a $0.5675 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.54. This represents a $2.27 dividend on an annualized basis and a yield of 2.98%. Equity Residential’s dividend payout ratio (DPR) is presently 69.85%.
In related news, insider Alan W. George sold 23,993 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $74.76, for a total value of $1,793,716.68. Following the transaction, the insider now directly owns 70,575 shares in the company, valued at approximately $5,276,187. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gerald A. Spector sold 12,938 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $75.00, for a total transaction of $970,350.00. Following the completion of the transaction, the insider now owns 290,065 shares in the company, valued at $21,754,875. The disclosure for this sale can be found here. Insiders sold a total of 267,803 shares of company stock worth $19,724,549 over the last quarter. 3.75% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of EQR. JPMorgan Chase & Co. grew its stake in Equity Residential by 1.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,758,455 shares of the real estate investment trust’s stock valued at $381,556,000 after buying an additional 69,262 shares during the last quarter. Martingale Asset Management L P grew its position in Equity Residential by 2,135.3% in the 3rd quarter. Martingale Asset Management L P now owns 247,495 shares of the real estate investment trust’s stock worth $16,400,000 after purchasing an additional 236,423 shares during the last quarter. Standard Life Aberdeen plc grew its position in Equity Residential by 1.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 203,580 shares of the real estate investment trust’s stock worth $13,491,000 after purchasing an additional 2,569 shares during the last quarter. Renaissance Technologies LLC grew its position in Equity Residential by 5.3% in the 3rd quarter. Renaissance Technologies LLC now owns 43,500 shares of the real estate investment trust’s stock worth $2,882,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Equity Residential by 6.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 51,600 shares of the real estate investment trust’s stock worth $3,419,000 after purchasing an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.
About Equity Residential
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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