Equity Residential (NYSE:EQR) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.29, Fidelity Earnings reports. The company had revenue of $633.02 million for the quarter, compared to analyst estimates of $626.81 million. Equity Residential had a return on equity of 5.76% and a net margin of 24.39%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. Equity Residential updated its Q2 guidance to $0.77-$0.81 EPS.
Shares of NYSE:EQR opened at $60.71 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $22,130.67, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 3.13 and a beta of 0.34. Equity Residential has a 12-month low of $54.97 and a 12-month high of $70.46.
The firm also recently disclosed 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 dividend yield of 3.56%. This is an increase from Equity Residential’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 23rd. Equity Residential’s dividend payout ratio (DPR) is presently 69.01%.
In related news, EVP Scott Fenster sold 449 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total transaction of $26,122.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Parrell sold 7,355 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $427,913.90. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock valued at $819,000 over the last three months. Corporate insiders own 3.79% of the company’s stock.
A number of research analysts have weighed in on the company. Zacks Investment Research lowered Equity Residential from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Robert W. Baird restated a “hold” rating and issued a $65.00 price objective on shares of Equity Residential in a report on Tuesday, January 9th. Stifel Nicolaus decreased their price objective on Equity Residential from $64.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, February 1st. SunTrust Banks set a $69.00 price objective on Equity Residential and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, Edward Jones upgraded Equity Residential from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. Equity Residential has an average rating of “Hold” and a consensus target price of $67.06.
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About Equity Residential
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.
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