Q1 2018 EPS Estimates for Equity Residential (EQR) Lowered by Analyst
Equity Residential (NYSE:EQR) – Investment analysts at SunTrust Banks decreased their Q1 2018 EPS estimates for Equity Residential in a research note issued to investors on Monday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $0.78 per share for the quarter, down from their prior estimate of $0.80. SunTrust Banks has a “Buy” rating and a $66.00 price target on the stock. SunTrust Banks also issued estimates for Equity Residential’s Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $0.82 EPS, Q4 2018 earnings at $0.85 EPS, FY2018 earnings at $3.25 EPS, Q1 2019 earnings at $0.84 EPS, Q2 2019 earnings at $0.84 EPS, Q3 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.88 EPS, FY2019 earnings at $3.41 EPS, FY2020 earnings at $3.48 EPS, FY2021 earnings at $3.49 EPS and FY2022 earnings at $3.55 EPS.
Several other analysts have also recently commented on EQR. BMO Capital Markets reiterated a “hold” rating and set a $69.00 price target on shares of Equity Residential in a research report on Monday, November 27th. Robert W. Baird reissued a “hold” rating and set a $65.00 price objective on shares of Equity Residential in a research note on Tuesday, January 9th. Zacks Investment Research lowered Equity Residential from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Edward Jones raised Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus lowered their price objective on Equity Residential from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Equity Residential has an average rating of “Hold” and a consensus target price of $66.82.
Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.47). Equity Residential had a return on equity of 5.76% and a net margin of 24.39%. The firm had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $625.83 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Monday, March 26th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, March 23rd. This is a positive change from Equity Residential’s previous quarterly dividend of $0.50. Equity Residential’s dividend payout ratio is 123.93%.
In other news, insider Ian Kaufman sold 684 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $39,795.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott Fenster sold 449 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total value of $26,122.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,077 shares of company stock worth $819,000. Corporate insiders own 3.79% of the company’s stock.
Several institutional investors have recently made changes to their positions in EQR. Cohen & Steers Inc. lifted its stake in shares of Equity Residential by 109.4% in the 3rd quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after purchasing an additional 7,600,203 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Equity Residential by 125.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,461,798 shares of the real estate investment trust’s stock valued at $227,925,000 after purchasing an additional 1,926,438 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Equity Residential in the 4th quarter valued at $65,374,000. Renaissance Technologies LLC raised its holdings in shares of Equity Residential by 329.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,001,600 shares of the real estate investment trust’s stock valued at $63,872,000 after buying an additional 768,179 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its holdings in shares of Equity Residential by 77.3% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,708,255 shares of the real estate investment trust’s stock valued at $108,935,000 after buying an additional 744,642 shares during the period. 94.27% of the stock is currently owned by institutional investors and hedge funds.
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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.
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