Brokerages expect Equity Residential (NYSE:EQR) to report sales of $684.16 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Equity Residential’s earnings. The highest sales estimate is $690.28 million and the lowest is $676.79 million. Equity Residential posted sales of $652.74 million during the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 4th.
On average, analysts expect that Equity Residential will report full-year sales of $2.70 billion for the current fiscal year, with estimates ranging from $2.69 billion to $2.71 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.79 billion, with estimates ranging from $2.75 billion to $2.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Equity Residential.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.17). The company had revenue of $685.15 million for the quarter, compared to analysts’ expectations of $679.66 million. Equity Residential had a net margin of 29.88% and a return on equity of 7.73%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS.
Several analysts have recently weighed in on the stock. Barclays restated a “hold” rating and set a $87.00 price objective on shares of Equity Residential in a research report on Sunday, October 13th. Zacks Investment Research upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Monday, August 12th. Morgan Stanley raised their price objective on shares of Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Argus raised their price objective on shares of Equity Residential from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, ValuEngine cut shares of Equity Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $83.27.
Shares of Equity Residential stock traded up $0.08 on Friday, hitting $87.07. 982,842 shares of the company traded hands, compared to its average volume of 1,399,491. The firm’s 50-day simple moving average is $86.97 and its 200 day simple moving average is $81.51. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.87. The company has a market cap of $32.11 billion, a P/E ratio of 26.79, a P/E/G ratio of 4.07 and a beta of 0.44. Equity Residential has a 12-month low of $63.17 and a 12-month high of $89.55.
In related news, Director David J. Neithercut sold 50,000 shares of Equity Residential stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $83.00, for a total value of $4,150,000.00. Following the transaction, the director now owns 3,392 shares in the company, valued at approximately $281,536. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David J. Neithercut sold 3,000 shares of Equity Residential stock in a transaction on Friday, November 1st. The stock was sold at an average price of $89.09, for a total transaction of $267,270.00. Following the completion of the transaction, the director now owns 3,392 shares in the company, valued at approximately $302,193.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,273 shares of company stock worth $8,171,577. 2.40% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of EQR. NEXT Financial Group Inc bought a new stake in Equity Residential in the 2nd quarter worth $34,000. Cutler Group LP grew its holdings in Equity Residential by 105.0% in the 3rd quarter. Cutler Group LP now owns 414 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 8,767 shares during the last quarter. Trustcore Financial Services LLC bought a new stake in Equity Residential in the 2nd quarter worth $40,000. LLBH Private Wealth Management LLC bought a new stake in Equity Residential in the 2nd quarter worth $51,000. Finally, CSat Investment Advisory L.P. grew its holdings in Equity Residential by 362.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 666 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 522 shares during the last quarter. Institutional investors own 87.08% of the company’s stock.
Equity Residential Company Profile
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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