Equities research analysts forecast that Equity Residential (NYSE:EQR) will announce $631.00 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Equity Residential’s earnings, with the lowest sales estimate coming in at $628.15 million and the highest estimate coming in at $633.90 million. Equity Residential posted sales of $604.10 million during the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The firm is expected to issue its next earnings results after the market closes on Tuesday, April 24th.
On average, analysts expect that Equity Residential will report full year sales of $631.00 million for the current fiscal year, with estimates ranging from $2.54 billion to $2.57 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.62 billion per share, with estimates ranging from $2.59 billion to $2.67 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Equity Residential.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.47). Equity Residential had a return on equity of 5.76% and a net margin of 24.39%. The firm had revenue of $630.50 million during the quarter, compared to analyst estimates of $625.83 million. During the same period in the prior year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis.
Equity Residential stock traded up $1.31 during midday trading on Thursday, reaching $62.35. The stock had a trading volume of 4,343,335 shares, compared to its average volume of 2,583,876. Equity Residential has a twelve month low of $54.97 and a twelve month high of $70.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $22,686.61, a price-to-earnings ratio of 19.92, a P/E/G ratio of 3.21 and a beta of 0.34.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Monday, March 26th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, March 23rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from Equity Residential’s previous quarterly dividend of $0.50. Equity Residential’s dividend payout ratio (DPR) is 69.01%.
In other Equity Residential news, EVP Scott Fenster sold 449 shares of Equity Residential stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total transaction of $26,122.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Kaufman sold 684 shares of Equity Residential stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total transaction of $39,795.12. The disclosure for this sale can be found here. Insiders have sold a total of 14,077 shares of company stock valued at $819,000 in the last three months. Company insiders own 3.79% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EQR. Cohen & Steers Inc. raised its holdings in shares of 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 valued at $959,197,000 after purchasing an additional 7,600,203 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Equity Residential by 125.5% in 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. Millennium Management LLC bought a new position in Equity Residential in the 4th quarter worth $65,374,000. Renaissance Technologies LLC raised its holdings in Equity Residential by 329.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,001,600 shares of the real estate investment trust’s stock worth $63,872,000 after acquiring an additional 768,179 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its holdings in Equity Residential by 77.3% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,708,255 shares of the real estate investment trust’s stock worth $108,935,000 after acquiring an additional 744,642 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.
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About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties in urban and high-density suburban coastal gateway markets where today's renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,611 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.
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