Equity Residential (NYSE:EQR) Releases Q3 2022 Earnings Guidance

Equity Residential (NYSE:EQRGet Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.89-$0.93 for the period. The company issued revenue guidance of -. Equity Residential also updated its FY 2022 guidance to $3.48-$3.58 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EQR. Credit Suisse Group began coverage on Equity Residential in a research report on Wednesday, June 22nd. They set an outperform rating and a $80.00 price objective on the stock. Jefferies Financial Group lowered their price objective on Equity Residential from $78.00 to $64.00 and set a hold rating on the stock in a research report on Thursday, June 30th. Barclays lowered their price objective on Equity Residential from $97.00 to $83.00 in a research report on Tuesday, May 10th. Scotiabank lowered their price objective on Equity Residential from $92.00 to $90.00 in a research report on Thursday, May 19th. Finally, Morgan Stanley decreased their price target on Equity Residential from $78.50 to $75.00 and set an equal weight rating on the stock in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential presently has an average rating of Hold and a consensus price target of $84.18.

Equity Residential Stock Performance

Equity Residential stock opened at $75.22 on Friday. Equity Residential has a 12-month low of $67.48 and a 12-month high of $94.32. The company has a quick ratio of 0.19, a current ratio of 0.24 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $73.08 and its two-hundred day moving average price is $81.34. The stock has a market cap of $28.29 billion, a PE ratio of 22.59, a P/E/G ratio of 3.20 and a beta of 0.81.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, June 27th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, June 24th. Equity Residential’s dividend payout ratio is presently 75.08%.

Insider Buying and Selling at Equity Residential

In other Equity Residential news, Director Mark S. Shapiro sold 6,665 shares of Equity Residential stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $70.10, for a total value of $467,216.50. Following the transaction, the director now owns 12,497 shares in the company, valued at $876,039.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Equity Residential

A number of hedge funds have recently made changes to their positions in EQR. Covestor Ltd boosted its stake in shares of Equity Residential by 742.0% during the first quarter. Covestor Ltd now owns 1,263 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 1,113 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Equity Residential by 54.3% during the first quarter. Lazard Asset Management LLC now owns 2,204 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 776 shares in the last quarter. Fund Management at Engine No. 1 LLC acquired a new stake in shares of Equity Residential during the first quarter valued at about $260,000. Quantamental Technologies LLC acquired a new stake in shares of Equity Residential during the first quarter valued at about $287,000. Finally, Horizon Investments LLC boosted its stake in shares of Equity Residential by 18.4% during the first quarter. Horizon Investments LLC now owns 3,421 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 532 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Equity Residential Company Profile

(Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

Further Reading

Earnings History and Estimates for Equity Residential (NYSE:EQR)

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