Brokerages Expect Equity Residential (EQR) Will Announce Earnings of $0.85 Per Share

Analysts predict that Equity Residential (NYSE:EQR) will post $0.85 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for Equity Residential’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.88. Equity Residential posted earnings per share of $0.81 in the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The company is scheduled to issue its next quarterly earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that Equity Residential will report full-year earnings of $3.40 per share for the current financial year, with EPS estimates ranging from $3.38 to $3.41. For the next fiscal year, analysts forecast that the business will report earnings of $3.54 per share, with EPS estimates ranging from $3.50 to $3.62. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Equity Residential.

Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.53). Equity Residential had a net margin of 21.10% and a return on equity of 5.31%. The firm had revenue of $662.30 million during the quarter, compared to the consensus estimate of $655.00 million. During the same period in the prior year, the company posted $0.77 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year.

A number of analysts have commented on the company. Zacks Investment Research cut Equity Residential from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. BMO Capital Markets restated a “hold” rating and issued a $78.00 price target on shares of Equity Residential in a research report on Monday, March 25th. Evercore ISI cut Equity Residential from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. Barclays restated a “hold” rating and issued a $65.00 price target on shares of Equity Residential in a research report on Wednesday, January 23rd. Finally, Argus upped their price target on Equity Residential to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Equity Residential presently has an average rating of “Hold” and a consensus target price of $72.48.

EQR stock traded down $0.19 during trading on Thursday, reaching $76.62. The stock had a trading volume of 1,173,966 shares, compared to its average volume of 953,261. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 3.81 and a beta of 0.58. Equity Residential has a 52 week low of $59.29 and a 52 week high of $77.69.

In related news, insider Alan W. George sold 23,993 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $74.76, for a total transaction of $1,793,716.68. Following the completion of the sale, the insider now owns 70,575 shares in the company, valued at $5,276,187. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan W. George sold 35,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $76.26, for a total value of $2,669,100.00. Following the sale, the insider now owns 91,582 shares of the company’s stock, valued at approximately $6,984,043.32. The disclosure for this sale can be found here. Insiders have sold 199,997 shares of company stock valued at $15,013,752 in the last quarter. 3.75% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ETRADE Capital Management LLC grew its holdings in Equity Residential by 0.4% during the 4th quarter. ETRADE Capital Management LLC now owns 39,176 shares of the real estate investment trust’s stock valued at $2,586,000 after buying an additional 138 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Equity Residential by 12.7% in the 1st quarter. Fifth Third Bancorp now owns 1,224 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 138 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Equity Residential by 3.6% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,000 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 140 shares during the last quarter. Braun Bostich & Associates Inc. lifted its stake in shares of Equity Residential by 38.0% in the 4th quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 142 shares during the last quarter. Finally, First Manhattan Co. lifted its stake in shares of Equity Residential by 7.1% in the 1st quarter. First Manhattan Co. now owns 2,168 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 92.04% 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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Earnings History and Estimates for Equity Residential (NYSE:EQR)

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