Equity Residential (EQR) Set to Announce Earnings on Tuesday

Equity Residential (NYSE:EQR) is set to release its earnings data after the market closes on Tuesday, April 23rd. Analysts expect Equity Residential to post earnings of $0.90 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.18). The company had revenue of $727.50 million during the quarter, compared to the consensus estimate of $725.07 million. Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, analysts expect Equity Residential to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Equity Residential Stock Down 1.7 %

EQR stock opened at $60.66 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $61.38 and a two-hundred day moving average price of $59.61. The company has a market cap of $23.02 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 3.58 and a beta of 0.84. Equity Residential has a twelve month low of $52.57 and a twelve month high of $69.45.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.45%. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, March 22nd. Equity Residential’s dividend payout ratio (DPR) is currently 122.73%.

Insider Activity at Equity Residential

In related news, CFO Robert Garechana sold 876 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the completion of the sale, the chief financial officer now directly owns 20,933 shares in the company, valued at approximately $1,209,927.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Robert Garechana sold 876 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $50,632.80. Following the completion of the sale, the chief financial officer now directly owns 20,933 shares in the company, valued at approximately $1,209,927.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael L. Manelis sold 1,639 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.43, for a total value of $97,405.77. Following the sale, the chief operating officer now owns 31,053 shares of the company’s stock, valued at $1,845,479.79. The disclosure for this sale can be found here. Insiders sold 3,280 shares of company stock worth $192,335 in the last ninety days. 1.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equity Residential

A number of institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new position in shares of Equity Residential during the 4th quarter worth $215,000. Public Employees Retirement System of Ohio increased its holdings in Equity Residential by 3.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 677,916 shares of the real estate investment trust’s stock worth $41,461,000 after purchasing an additional 21,042 shares in the last quarter. GTS Securities LLC increased its holdings in Equity Residential by 10.8% in the 4th quarter. GTS Securities LLC now owns 9,681 shares of the real estate investment trust’s stock worth $592,000 after purchasing an additional 944 shares in the last quarter. Employees Retirement System of Texas increased its holdings in Equity Residential by 35.2% in the 4th quarter. Employees Retirement System of Texas now owns 219,020 shares of the real estate investment trust’s stock worth $13,395,000 after purchasing an additional 57,000 shares in the last quarter. Finally, Davis Asset Management L.P. acquired a new position in Equity Residential in the 4th quarter worth about $61,160,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EQR shares. Barclays decreased their price target on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Truist Financial decreased their price target on Equity Residential from $71.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Mizuho cut their price objective on Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Equity Residential in a research report on Thursday, February 22nd. Finally, Raymond James raised Equity Residential from an “underperform” rating to a “market perform” rating in a research report on Monday, March 18th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.32.

About Equity Residential

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 affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.