Equity Residential (EQR) to Release Quarterly Earnings on Monday

Equity Residential (NYSE:EQR) will be issuing its quarterly earnings data after the market closes on Monday, July 29th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Equity Residential Price Performance

EQR opened at $70.77 on Friday. Equity Residential has a 52-week low of $52.57 and a 52-week high of $71.40. The company has a 50 day moving average of $67.39 and a two-hundred day moving average of $63.92. The company has a market cap of $26.86 billion, a P/E ratio of 29.37, a P/E/G ratio of 4.00 and a beta of 0.87. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.64.

Equity Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were given a dividend of $0.675 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.70 dividend on an annualized basis and a yield of 3.82%. Equity Residential’s dividend payout ratio (DPR) is 112.03%.

Insider Transactions at Equity Residential

In related news, CFO Robert Garechana sold 6,357 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $69.08, for a total transaction of $439,141.56. Following the sale, the chief financial officer now directly owns 14,576 shares of the company’s stock, valued at approximately $1,006,910.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Equity Residential from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Morgan Stanley increased their price objective on shares of Equity Residential from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Piper Sandler upgraded shares of Equity Residential from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $80.00 in a research note on Friday, June 28th. JPMorgan Chase & Co. upped their target price on shares of Equity Residential from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Finally, Wedbush reaffirmed a “neutral” rating and set a $68.00 price target on shares of Equity Residential in a research note on Monday, April 29th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Equity Residential currently has an average rating of “Hold” and a consensus target price of $69.53.

About Equity Residential

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.