Wall Street analysts expect Equity Residential (NYSE:EQR) to post earnings per share of $0.81 for the current quarter, according to Zacks. Seven analysts have issued estimates for Equity Residential’s earnings, with estimates ranging from $0.80 to $0.82. Equity Residential reported earnings per share of $0.75 during the same quarter last year, which would indicate a positive year over year growth rate of 8%. The business is scheduled to issue its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Equity Residential will report full year earnings of $3.12 per share for the current year, with EPS estimates ranging from $3.10 to $3.15. For the next fiscal year, analysts expect that the company will post earnings of $3.25 per share, with EPS estimates ranging from $3.20 to $3.32. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Equity Residential.
A number of research firms have weighed in on EQR. BMO Capital Markets reiterated a “hold” rating and issued a $69.00 target price on shares of Equity Residential in a research note on Monday, November 27th. Jefferies Group reiterated a “hold” rating and issued a $65.00 target price on shares of Equity Residential in a research note on Sunday, September 10th. Mizuho upgraded shares of Equity Residential from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Monday, November 6th. Zacks Investment Research cut shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Royal Bank of Canada restated a “hold” rating and set a $70.00 price target on shares of Equity Residential in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Equity Residential has a consensus rating of “Hold” and an average target price of $69.47.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.5038 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, December 29th. Equity Residential’s payout ratio is currently 69.66%.
In related news, insider Alan W. George sold 84,326 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $69.47, for a total transaction of $5,858,127.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander Brackenridge sold 6,497 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $69.41, for a total transaction of $450,956.77. The disclosure for this sale can be found here. Insiders have sold a total of 402,380 shares of company stock worth $27,663,622 over the last 90 days. 3.79% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of EQR. Cohen & Steers Inc. increased its holdings in Equity Residential by 109.4% during the 3rd quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock worth $959,197,000 after acquiring an additional 7,600,203 shares during the period. Daiwa Securities Group Inc. increased its holdings in Equity Residential by 113.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,724,194 shares of the real estate investment trust’s stock worth $509,256,000 after acquiring an additional 4,112,438 shares during the period. JPMorgan Chase & Co. increased its holdings in Equity Residential by 125.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,461,798 shares of the real estate investment trust’s stock worth $227,925,000 after acquiring an additional 1,926,438 shares during the period. FMR LLC increased its holdings in Equity Residential by 16.4% during the 2nd quarter. FMR LLC now owns 6,697,809 shares of the real estate investment trust’s stock worth $440,917,000 after acquiring an additional 945,524 shares during the period. Finally, BlackRock Inc. increased its holdings in Equity Residential by 2.3% during the 2nd quarter. BlackRock Inc. now owns 34,594,954 shares of the real estate investment trust’s stock worth $2,277,386,000 after acquiring an additional 794,065 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.
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About Equity Residential
Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.
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