$0.82 Earnings Per Share Expected for Equity Residential (EQR) This Quarter
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.
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.
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