Wall Street analysts predict that Equity Residential (NYSE:EQR) will post earnings per share of $0.82 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Equity Residential’s earnings, with estimates ranging from $0.81 to $0.84. Equity Residential reported earnings of $0.80 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The company is expected to report its next quarterly earnings report on Tuesday, October 23rd.

According to Zacks, analysts expect that Equity Residential will report full-year earnings of $3.25 per share for the current year, with EPS estimates ranging from $3.21 to $3.29. For the next fiscal year, analysts expect that the firm will post earnings of $3.37 per share, with EPS estimates ranging from $3.31 to $3.48. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Equity Residential.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. The business had revenue of $639.62 million during the quarter, compared to analyst estimates of $637.34 million. Equity Residential had a net margin of 23.27% and a return on equity of 5.63%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share.

Several equities analysts have recently commented on the stock. ValuEngine upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Stifel Nicolaus upped their price target on shares of Equity Residential from $60.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Morgan Stanley lowered their price target on shares of Equity Residential from $66.50 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, June 14th. SunTrust Banks lowered shares of Equity Residential from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a research report on Tuesday, August 14th. Finally, Robert W. Baird restated a “hold” rating and set a $66.00 price target on shares of Equity Residential in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.62.

In other Equity Residential news, CEO David J. Neithercut sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $64.50, for a total value of $1,612,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David S. Santee sold 1,928 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $61.55, for a total transaction of $118,668.40. The disclosure for this sale can be found here. Corporate insiders own 3.75% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Landaas & Co. WI ADV acquired a new stake in Equity Residential in the 2nd quarter valued at about $101,000. Optimum Investment Advisors acquired a new stake in Equity Residential in the 1st quarter valued at about $173,000. Cornerstone Wealth Management LLC acquired a new stake in Equity Residential in the 2nd quarter valued at about $187,000. Girard Partners LTD. acquired a new stake in Equity Residential in the 2nd quarter valued at about $203,000. Finally, Marco Investment Management LLC acquired a new stake in Equity Residential in the 2nd quarter valued at about $205,000. 92.68% of the stock is owned by institutional investors.

Shares of Equity Residential stock traded up $0.46 during trading on Friday, hitting $67.85. 1,300,835 shares of the stock were exchanged, compared to its average volume of 2,218,062. The firm has a market capitalization of $24.29 billion, a P/E ratio of 21.68, a P/E/G ratio of 3.42 and a beta of 0.43. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.16 and a current ratio of 0.16. Equity Residential has a 12 month low of $54.97 and a 12 month high of $70.46.

About Equity Residential

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 303 properties consisting of 78,399 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

Recommended Story: Do closed-end mutual funds pay dividends?

Get a free copy of the Zacks research report on Equity Residential (EQR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.