Equity Residential to Post Q3 2024 Earnings of $0.98 Per Share, Zacks Research Forecasts (NYSE:EQR)

Equity Residential (NYSE:EQRFree Report) – Research analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for shares of Equity Residential in a research note issued to investors on Tuesday, May 14th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings per share of $0.98 for the quarter, up from their prior forecast of $0.97. The consensus estimate for Equity Residential’s current full-year earnings is $3.87 per share. Zacks Research also issued estimates for Equity Residential’s FY2024 earnings at $3.84 EPS, Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $1.00 EPS, FY2025 earnings at $3.91 EPS, Q1 2026 earnings at $1.00 EPS and FY2026 earnings at $4.12 EPS.

Equity Residential (NYSE:EQRGet Free Report) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $730.80 million during the quarter, compared to analysts’ expectations of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS.

A number of other analysts have also commented on the stock. Evercore ISI lowered shares of Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 target price for the company. in a report on Monday. Barclays reduced their target price on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. BMO Capital Markets upgraded shares of Equity Residential from a “market perform” rating to an “outperform” rating and increased their price target for the company from $68.00 to $70.00 in a research report on Monday, April 22nd. Wedbush restated a “neutral” rating and set a $68.00 price objective on shares of Equity Residential in a report on Monday, April 29th. Finally, Royal Bank of Canada increased their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.22.

Read Our Latest Stock Report on EQR

Equity Residential Stock Performance

Equity Residential stock opened at $67.39 on Wednesday. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.45. The company’s 50-day moving average is $63.22 and its two-hundred day moving average is $60.44. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.64. The company has a market cap of $25.58 billion, a PE ratio of 27.96, a PEG ratio of 3.54 and a beta of 0.82.

Equity Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a dividend of $0.675 per share. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Friday, March 22nd. Equity Residential’s dividend payout ratio is currently 112.03%.

Insider Buying and Selling

In other Equity Residential news, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total transaction of $261,795.27. Following the completion of the transaction, the executive vice president now owns 69,901 shares of the company’s stock, valued at approximately $4,544,264.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Mary Kay Haben sold 3,241 shares of Equity Residential stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $65.48, for a total value of $212,220.68. Following the sale, the director now owns 9,720 shares of the company’s stock, valued at $636,465.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alexander Brackenridge sold 4,027 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $65.01, for a total value of $261,795.27. Following the sale, the executive vice president now owns 69,901 shares in the company, valued at approximately $4,544,264.01. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. boosted its holdings in shares of Equity Residential by 593.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 392 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Equity Residential during the first quarter worth $27,000. Bruce G. Allen Investments LLC bought a new stake in Equity Residential during the fourth quarter worth $28,000. Allworth Financial LP lifted its stake in Equity Residential by 120.8% in the fourth quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. Finally, Voisard Asset Management Group Inc. bought a new position in shares of Equity Residential in the 4th quarter valued at about $33,000. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Company Profile

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Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.

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

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