Zacks: Analysts Expect Equity Residential (EQR) to Post $0.81 Earnings Per Share
Brokerages expect Equity Residential (NYSE:EQR) to post earnings per share (EPS) of $0.81 for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Equity Residential’s earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.80. Equity Residential reported earnings per share of $0.77 during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.2%. The firm is expected to announce its next earnings report on Tuesday, April 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 $3.37 to $3.43. For the next year, analysts expect that the company will post earnings of $3.53 per share, with EPS estimates ranging from $3.49 to $3.66. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Equity Residential.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.54). Equity Residential had a return on equity of 6.31% and a net margin of 25.50%. The company had revenue of $652.55 million for the quarter, compared to the consensus estimate of $652.35 million. During the same period in the prior year, the company earned $0.83 EPS. The firm’s revenue was up 3.5% on a year-over-year basis.
Shares of EQR stock opened at $73.29 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.29 and a debt-to-equity ratio of 0.85. Equity Residential has a 12-month low of $55.50 and a 12-month high of $73.85. The firm has a market cap of $26.73 billion, a PE ratio of 22.55, a P/E/G ratio of 3.64 and a beta of 0.61.
In other Equity Residential news, Director David J. Neithercut sold 50,000 shares of the stock in a transaction on Friday, February 8th. The shares were sold at an average price of $73.50, for a total value of $3,675,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alan W. George sold 12,916 shares of the stock in a transaction on Friday, December 7th. The shares were sold at an average price of $72.02, for a total transaction of $930,210.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 342,878 shares of company stock valued at $24,711,438. Corporate insiders own 3.75% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EQR. FMR LLC lifted its stake in Equity Residential by 5.1% in the second quarter. FMR LLC now owns 10,660,719 shares of the real estate investment trust’s stock valued at $678,982,000 after acquiring an additional 520,610 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Equity Residential by 9.8% in the second quarter. Advisors Asset Management Inc. now owns 15,939 shares of the real estate investment trust’s stock valued at $1,015,000 after acquiring an additional 1,419 shares during the last quarter. Bank of Montreal Can lifted its stake in Equity Residential by 31.7% in the third quarter. Bank of Montreal Can now owns 404,399 shares of the real estate investment trust’s stock valued at $26,796,000 after acquiring an additional 97,445 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Equity Residential during the 3rd quarter worth about $585,000. Finally, Aperio Group LLC lifted its stake in shares of Equity Residential by 6.1% during the 3rd quarter. Aperio Group LLC now owns 128,238 shares of the real estate investment trust’s stock worth $8,497,000 after buying an additional 7,342 shares during the last quarter. Hedge funds and other institutional investors own 88.25% 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 306 properties consisting of 79,260 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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