SunTrust Banks Comments on Equity Residential’s FY2022 Earnings (NYSE:EQR)

Equity Residential (NYSE:EQR) – Stock analysts at SunTrust Banks issued their FY2022 EPS estimates for Equity Residential in a research note issued on Monday, according to Zacks Investment Research. SunTrust Banks analyst M. Lewis forecasts that the real estate investment trust will earn $3.82 per share for the year. SunTrust Banks has a “Buy” rating and a $69.00 price objective on the stock.

A number of other analysts have also weighed in on the stock. Mizuho set a $67.00 target price on shares of Equity Residential and gave the stock a “buy” rating in a research note on Friday, February 9th. Cantor Fitzgerald set a $66.00 target price on shares of Equity Residential and gave the stock a “hold” rating in a research note on Monday, February 5th. Jefferies Group restated a “hold” rating and set a $62.00 target price on shares of Equity Residential in a research note on Monday, February 5th. Stifel Nicolaus cut their target price on shares of Equity Residential from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, February 1st. Finally, Edward Jones upgraded shares of Equity Residential from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $67.87.

Equity Residential (NYSE:EQR) traded up $0.69 during mid-day trading on Tuesday, hitting $57.36. 337,432 shares of the company were exchanged, compared to its average volume of 2,195,560. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.29 and a quick ratio of 0.24. Equity Residential has a 12-month low of $54.97 and a 12-month high of $70.46. The stock has a market capitalization of $20,973.35, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 2.78 and a beta of 0.34.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.47). The business had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $625.83 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 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share.

In other news, EVP Scott Fenster sold 449 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $26,122.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David S. Santee sold 5,589 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total value of $325,168.02. The disclosure for this sale can be found here. Insiders sold 14,077 shares of company stock valued at $819,000 over the last ninety days. 3.79% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of EQR. Cohen & Steers Inc. boosted its holdings in shares of Equity Residential by 109.4% in the third quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after acquiring an additional 7,600,203 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Equity Residential by 113.9% in the third quarter. Daiwa Securities Group Inc. now owns 7,724,194 shares of the real estate investment trust’s stock valued at $509,256,000 after acquiring an additional 4,112,438 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Equity Residential by 125.5% in the third quarter. JPMorgan Chase & Co. now owns 3,461,798 shares of the real estate investment trust’s stock valued at $227,925,000 after acquiring an additional 1,926,438 shares during the period. Millennium Management LLC acquired a new stake in shares of Equity Residential in the fourth quarter valued at approximately $65,374,000. Finally, FMR LLC boosted its holdings in shares of Equity Residential by 16.4% in the second quarter. FMR LLC now owns 6,697,809 shares of the real estate investment trust’s stock valued at $440,917,000 after acquiring an additional 945,524 shares during the period. 93.55% of the stock is 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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Earnings History and Estimates for Equity Residential (NYSE:EQR)

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