Equity Residential (NYSE:EQR) Issues Q4 2019 Earnings Guidance

Equity Residential (NYSE:EQR) updated its fourth quarter 2019 earnings guidance on Tuesday. The company provided EPS guidance of $0.87-0.89 for the period. Equity Residential also updated its FY 2019 guidance to $3.46-3.48 EPS.

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Equity Residential from $79.00 to $90.00 and gave the stock an equal weight rating in a research report on Friday, September 6th. Barclays reaffirmed a hold rating and set a $87.00 price objective on shares of Equity Residential in a research report on Sunday, October 13th. ValuEngine cut shares of Equity Residential from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Equity Residential from a hold rating to a buy rating and set a $86.00 price objective for the company in a research report on Monday, August 12th. Finally, Robert W. Baird downgraded Equity Residential from a neutral rating to an underperform rating and lifted their target price for the stock from $78.00 to $81.00 in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $79.43.

EQR stock traded down $0.45 during midday trading on Thursday, reaching $87.39. The company had a trading volume of 24,407 shares, compared to its average volume of 1,411,344. The company has a market capitalization of $32.80 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 4.28 and a beta of 0.47. The stock has a 50 day moving average price of $86.51 and a 200-day moving average price of $80.19. Equity Residential has a 1-year low of $63.17 and a 1-year high of $89.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.45 and a quick ratio of 1.45.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.17). The company had revenue of $685.15 million during the quarter, compared to analyst estimates of $679.66 million. Equity Residential had a net margin of 29.88% and a return on equity of 7.74%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. As a group, research analysts anticipate that Equity Residential will post 3.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Equity Residential’s previous quarterly dividend of $0.57. Equity Residential’s payout ratio is 69.85%.

In other Equity Residential news, EVP Scott Fenster sold 2,118 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $84.12, for a total transaction of $178,166.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alan W. George sold 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $84.60, for a total value of $846,000.00. Following the transaction, the executive vice president now directly owns 31,280 shares of the company’s stock, valued at approximately $2,646,288. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,876 shares of company stock valued at $15,221,779. 3.75% of the stock is owned by insiders.

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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