$0.85 EPS Expected for Equity Residential (NYSE:EQR) This Quarter
Analysts expect Equity Residential (NYSE:EQR) to announce earnings per share (EPS) of $0.85 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Equity Residential’s earnings, with estimates ranging from $0.84 to $0.86. Equity Residential posted earnings of $0.81 per share in the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, July 30th.
According to Zacks, analysts expect that Equity Residential will report full year earnings of $3.40 per share for the current fiscal year, with EPS estimates ranging from $3.38 to $3.41. For the next financial year, analysts forecast that the business will post earnings of $3.54 per share, with EPS estimates ranging from $3.50 to $3.62. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Equity Residential.
Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.53). Equity Residential had a net margin of 21.10% and a return on equity of 5.31%. The business had revenue of $662.30 million during the quarter, compared to the consensus estimate of $655.00 million. During the same period in the previous year, the business posted $0.77 EPS. Equity Residential’s revenue was up 4.7% compared to the same quarter last year.
In other Equity Residential news, insider Alan W. George sold 35,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $76.26, for a total value of $2,669,100.00. Following the completion of the transaction, the insider now directly owns 91,582 shares of the company’s stock, valued at approximately $6,984,043.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alan W. George sold 30,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $77.24, for a total transaction of $2,317,200.00. Following the completion of the transaction, the insider now directly owns 86,582 shares of the company’s stock, valued at $6,687,593.68. The disclosure for this sale can be found here. Insiders sold a total of 185,173 shares of company stock valued at $14,222,839 over the last quarter. 2.40% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. purchased a new position in shares of Equity Residential in the first quarter valued at about $30,000. NEXT Financial Group Inc purchased a new position in shares of Equity Residential during the second quarter valued at about $34,000. Trustcore Financial Services LLC purchased a new position in shares of Equity Residential during the second quarter valued at about $40,000. Liberty Wealth Management LLC purchased a new position in shares of Equity Residential during the fourth quarter valued at about $38,000. Finally, Parallel Advisors LLC increased its position in shares of Equity Residential by 162.9% during the first quarter. Parallel Advisors LLC now owns 828 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 513 shares during the period. 88.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Equity Residential stock traded down $0.07 during mid-day trading on Tuesday, hitting $79.54. 1,418,123 shares of the stock were exchanged, compared to its average volume of 1,338,403. Equity Residential has a 12 month low of $62.40 and a 12 month high of $80.62. The firm’s 50-day moving average is $77.96. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $29.11 billion, a P/E ratio of 24.47, a P/E/G ratio of 3.91 and a beta of 0.50.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.567 dividend. The ex-dividend date was Thursday, June 27th. This represents a $2.27 dividend on an annualized basis and a yield of 2.85%. Equity Residential’s dividend payout ratio is 69.85%.
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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