Analysts expect Equity Residential (NYSE:EQR – Get Rating) to post sales of $658.07 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made 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 firm is expected to issue 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 financial year, with estimates ranging from $2.69 billion to $2.76 billion. For the next financial year, analysts forecast that the firm will report sales of $2.88 billion, with estimates ranging from $2.81 billion to $2.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Equity Residential.
Equity Residential (NYSE:EQR – Get Rating) last issued its quarterly earnings results on Monday, January 31st. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.60. The business had revenue of $645.13 million for the quarter, compared to analysts’ expectations of $633.11 million. Equity Residential had a net margin of 54.09% and a return on equity of 12.37%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share.
Shares of EQR opened at $90.43 on Friday. The stock has a market capitalization of $33.99 billion, a PE ratio of 25.55, a P/E/G ratio of 5.44 and a beta of 0.80. Equity Residential has a 1 year low of $70.98 and a 1 year high of $93.03. 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 company’s 50-day simple moving average is $88.11 and its 200-day simple moving average is $87.38.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Monday, March 28th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, March 25th. This is an increase from Equity Residential’s previous quarterly dividend of $0.60. Equity Residential’s dividend payout ratio is currently 70.62%.
In other Equity Residential news, Director David J. Neithercut sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 3rd. The shares were sold at an average price of $92.01, for a total value of $9,201,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ian Kaufman sold 870 shares of the company’s stock in a transaction on Friday, February 4th. The stock was sold at an average price of $90.13, for a total transaction of $78,413.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,371 shares of company stock valued at $9,955,478. Insiders own 2.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Checchi Capital Advisers LLC boosted its holdings in Equity Residential by 3.5% in the 4th 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 period. Wetherby Asset Management Inc. increased its position in shares of Equity Residential by 4.3% during the 4th quarter. Wetherby Asset Management Inc. now owns 2,810 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 117 shares in the last quarter. Keybank National Association OH increased its position in shares of Equity Residential by 4.1% during the 4th quarter. Keybank National Association OH now owns 3,152 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 124 shares in the last quarter. First Command Bank increased its position in Equity Residential by 15.6% in the 1st quarter. First Command Bank now owns 1,040 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 140 shares in the last quarter. Finally, CAPROCK Group Inc. increased its position in Equity Residential by 4.7% in the 1st quarter. CAPROCK Group Inc. now owns 3,825 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 173 shares in the last quarter. 91.11% of the stock is owned by hedge funds and other institutional investors.
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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