Equity Residential (NYSE:EQR) Expected to Announce Quarterly Sales of $658.07 Million

Equities analysts expect that Equity Residential (NYSE:EQRGet Rating) will report $658.07 million in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Equity Residential’s earnings, with estimates ranging from $645.94 million to $665.70 million. Equity Residential reported sales of $597.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The business is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Equity Residential will report full-year sales of $2.72 billion for the current fiscal year, with estimates ranging from $2.69 billion to $2.76 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.88 billion, with estimates ranging from $2.81 billion to $2.98 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Equity Residential.

Equity Residential (NYSE:EQRGet Rating) last announced its quarterly earnings data on Monday, January 31st. The real estate investment trust reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.60. Equity Residential had a return on equity of 12.37% and a net margin of 54.09%. The company had revenue of $645.13 million during the quarter, compared to the consensus estimate of $633.11 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year.

A number of brokerages have recently commented on EQR. Truist Financial increased their price objective on Equity Residential from $89.00 to $95.00 in a research report on Tuesday, January 18th. Mizuho reduced their target price on Equity Residential from $98.00 to $92.00 and set a “neutral” rating for the company in a report on Wednesday, February 16th. Barclays increased their target price on Equity Residential from $87.00 to $97.00 in a report on Tuesday, January 18th. StockNews.com assumed coverage on Equity Residential in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Morgan Stanley increased their target price on Equity Residential from $92.00 to $95.50 and gave the company an “equal weight” rating in a report on Friday, April 8th. Fourteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $90.50.

In other news, Director David J. Neithercut sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $92.01, for a total value of $9,201,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Ian Kaufman sold 870 shares of the firm’s stock in a transaction dated Friday, February 4th. The shares were sold at an average price of $90.13, for a total value of $78,413.10. The disclosure for this sale can be found here. Insiders have sold 108,371 shares of company stock worth $9,955,478 over the last three months. Company insiders own 2.30% of the company’s stock.

Several large investors have recently modified their holdings of the company. Checchi Capital Advisers LLC grew its position in shares of Equity Residential by 3.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,424 shares of the real estate investment trust’s stock valued at $310,000 after purchasing an additional 117 shares during the last quarter. Wetherby Asset Management Inc. grew its position in Equity Residential by 4.3% during the fourth quarter. Wetherby Asset Management Inc. now owns 2,810 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 117 shares in the last quarter. Keybank National Association OH grew its position in Equity Residential by 4.1% during the fourth quarter. Keybank National Association OH now owns 3,152 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 124 shares in the last quarter. First Command Bank grew its position in Equity Residential by 15.6% during the first quarter. First Command Bank now owns 1,040 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 140 shares in the last quarter. Finally, CAPROCK Group Inc. grew its position in Equity Residential by 4.7% during the first quarter. CAPROCK Group Inc. now owns 3,825 shares of the real estate investment trust’s stock worth $346,000 after buying an additional 173 shares in the last quarter. 91.11% of the stock is currently owned by institutional investors.

Shares of NYSE:EQR opened at $90.43 on Friday. Equity Residential has a one year low of $70.98 and a one year high of $93.03. The stock has a fifty day moving average of $88.11 and a 200-day moving average of $87.38. The company has a market capitalization of $33.99 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 5.44 and a beta of 0.80. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.70 and a current ratio of 0.70.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 8th. Shareholders of record on Monday, March 28th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 2.76%. This is an increase from Equity Residential’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, March 25th. Equity Residential’s dividend payout ratio is presently 70.62%.

About Equity Residential (Get Rating)

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, 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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