Equity Residential (NYSE:EQR) – Research analysts at SunTrust Banks dropped their Q1 2018 EPS estimates for Equity Residential in a research note issued to investors on Monday. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings of $0.78 per share for the quarter, down from their prior forecast of $0.80. SunTrust Banks currently 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.
A number of other research analysts also recently issued reports on the company. Sandler O’Neill set a $65.00 price objective on Equity Residential and gave the stock a “hold” rating in a report on Tuesday. UBS upgraded Equity Residential from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Monday. BMO Capital Markets set a $61.00 price objective on Equity Residential and gave the stock a “hold” rating in a report on Friday, March 2nd. Robert W. Baird set a $62.00 price objective on Equity Residential and gave the stock a “hold” rating in a report on Friday, March 2nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $66.00 price objective (down from $69.00) on shares of Equity Residential in a report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. Equity Residential presently has an average rating of “Hold” and a consensus target price of $66.82.
EQR stock opened at $60.27 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $22,207.99, a PE ratio of 36.98, a P/E/G ratio of 3.17 and a beta of 0.42. Equity Residential has a fifty-two week low of $54.97 and a fifty-two week high of $70.46.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.47). The firm had revenue of $630.50 million for the quarter, compared to the consensus estimate of $625.83 million. Equity Residential had a return on equity of 5.76% and a net margin of 24.39%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Monday, March 26th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.58%. This is an increase from Equity Residential’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 23rd. Equity Residential’s dividend payout ratio (DPR) is currently 123.93%.
In other Equity Residential news, insider Ian Kaufman sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $39,795.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Fenster sold 449 shares of Equity Residential stock in a transaction that occurred on Wednesday, February 7th. The stock was 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. Over the last 90 days, insiders sold 14,077 shares of company stock valued at $819,000. Corporate insiders own 3.79% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of EQR. Cohen & Steers Inc. boosted its stake in shares of Equity Residential by 109.4% during the 3rd quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock worth $959,197,000 after acquiring an additional 7,600,203 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Equity Residential by 125.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,461,798 shares of the real estate investment trust’s stock worth $227,925,000 after acquiring an additional 1,926,438 shares during the period. Millennium Management LLC bought a new position in shares of Equity Residential during the 4th quarter worth approximately $65,374,000. Renaissance Technologies LLC boosted its stake in shares of Equity Residential by 329.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,001,600 shares of the real estate investment trust’s stock worth $63,872,000 after acquiring an additional 768,179 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Equity Residential by 77.3% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,708,255 shares of the real estate investment trust’s stock worth $108,935,000 after acquiring an additional 744,642 shares during the period. Institutional investors own 94.27% of the company’s stock.
WARNING: “SunTrust Banks Weighs in on Equity Residential’s Q1 2018 Earnings (EQR)” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/03/21/suntrust-banks-weighs-in-on-equity-residentials-q1-2018-earnings-eqr.html.
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.
Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.