Equity Residential (EQR) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Equity Residential (NYSE:EQR) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.01), Briefing.com reports. Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The company had revenue of $633.02 million for the quarter, compared to analysts’ expectations of $626.81 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Equity Residential updated its Q2 guidance to $0.77-$0.81 EPS.

Equity Residential stock traded up $0.30 during trading on Tuesday, reaching $60.71. 1,998,754 shares of the company’s stock were exchanged, compared to its average volume of 2,577,546. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.86. Equity Residential has a 52-week low of $54.97 and a 52-week high of $70.46. The stock has a market cap of $22,130.67, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 3.13 and a beta of 0.34.

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The firm also recently declared a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Monday, March 26th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.56%. This is a boost from Equity Residential’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 23rd. Equity Residential’s dividend payout ratio is 69.01%.

Several analysts have recently issued reports on the stock. Edward Jones raised shares of Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Robert W. Baird reissued a “hold” rating and set a $65.00 price objective on shares of Equity Residential in a research note on Tuesday, January 9th. UBS raised shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Monday, March 19th. Mizuho set a $67.00 price objective on shares of Equity Residential and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $65.00 price target on shares of Equity Residential in a research report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $67.06.

In other Equity Residential news, insider Ian Kaufman sold 684 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total value of $39,795.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO David S. Santee sold 5,589 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total transaction of $325,168.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,077 shares of company stock valued at $819,000. 3.79% of the stock is owned by corporate insiders.

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Equity Residential Company Profile

Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.

Earnings History for Equity Residential (NYSE:EQR)

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