Q3 2019 EPS Estimates for Equity Residential Lowered by Jefferies Financial Group (NYSE:EQR)

Equity Residential (NYSE:EQR) – Equities research analysts at Jefferies Financial Group dropped their Q3 2019 earnings per share estimates for Equity Residential in a research report issued on Monday, October 14th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will earn $0.87 per share for the quarter, down from their prior forecast of $0.88.

Equity Residential (NYSE:EQR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). Equity Residential had a net margin of 28.27% and a return on equity of 7.21%. The firm had revenue of $669.37 million during the quarter, compared to analyst estimates of $667.59 million. During the same period in the prior year, the company earned $0.81 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year.

Several other research analysts also recently issued reports on the company. Robert W. Baird downgraded Equity Residential from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $78.00 to $81.00 in a research note on Monday. Barclays reaffirmed a “hold” rating and issued a $87.00 price objective on shares of Equity Residential in a research note on Sunday. Zacks Investment Research raised Equity Residential from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Monday, August 12th. SunTrust Banks upped their price objective on Equity Residential from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley upped their price objective on Equity Residential from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $79.43.

Equity Residential stock opened at $87.56 on Wednesday. The business has a 50 day moving average of $85.90 and a 200-day moving average of $79.68. Equity Residential has a 1 year low of $62.78 and a 1 year high of $88.49. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $32.50 billion, a P/E ratio of 26.16, a P/E/G ratio of 4.24 and a beta of 0.47.

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, September 27th. This is an increase from Equity Residential’s previous quarterly dividend of $0.57. Equity Residential’s dividend payout ratio is currently 69.85%.

In other Equity Residential news, EVP Scott Fenster sold 2,118 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $84.12, for a total transaction of $178,166.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ian Kaufman sold 15,072 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.00, for a total transaction of $1,205,760.00. The disclosure for this sale can be found here. Insiders have sold a total of 186,876 shares of company stock valued at $15,221,779 in the last three months. Insiders own 2.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in EQR. First Trust Advisors LP grew its position in shares of Equity Residential by 7.1% during the 1st quarter. First Trust Advisors LP now owns 497,251 shares of the real estate investment trust’s stock worth $37,453,000 after buying an additional 32,804 shares during the period. Allstate Corp grew its position in shares of Equity Residential by 1.7% during the 1st quarter. Allstate Corp now owns 46,251 shares of the real estate investment trust’s stock worth $3,484,000 after buying an additional 769 shares during the period. Advisory Services Network LLC grew its position in shares of Equity Residential by 1,081.5% during the 1st quarter. Advisory Services Network LLC now owns 3,060 shares of the real estate investment trust’s stock worth $230,000 after buying an additional 2,801 shares during the period. FMR LLC grew its position in shares of Equity Residential by 15.8% during the 1st quarter. FMR LLC now owns 10,042,326 shares of the real estate investment trust’s stock worth $756,387,000 after buying an additional 1,373,126 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its position in shares of Equity Residential by 6.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 443,165 shares of the real estate investment trust’s stock worth $33,379,000 after buying an additional 26,529 shares during the period. 88.14% of the stock is owned by institutional investors and hedge funds.

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

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