Q3 2024 EPS Estimates for Equity Residential Raised by Analyst (NYSE:EQR)

Equity Residential (NYSE:EQRFree Report) – Analysts at Zacks Research raised their Q3 2024 EPS estimates for shares of Equity Residential in a research note issued to investors on Tuesday, May 14th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will earn $0.98 per share 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.

EQR has been the subject of several other research reports. Mizuho dropped their target price on shares of Equity Residential from $62.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Barclays cut their price objective on Equity Residential from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. BMO Capital Markets upgraded Equity Residential from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $70.00 in a research report on Monday, April 22nd. Morgan Stanley upped their price target on Equity Residential from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Royal Bank of Canada lifted their price objective 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and a consensus target price of $68.22.

View Our Latest Analysis on EQR

Equity Residential Stock Up 1.0 %

Shares of NYSE:EQR opened at $67.39 on Wednesday. The firm has a market cap of $25.58 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.54 and a beta of 0.82. The company has a fifty day simple moving average of $63.22 and a 200 day simple moving average of $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. Equity Residential has a 12-month low of $52.57 and a 12-month high of $69.45.

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

Institutional Trading of Equity Residential

A number of hedge funds and other institutional investors have recently modified their holdings of EQR. Financial Gravity Asset Management Inc. grew its holdings in Equity Residential by 593.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 392 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Equity Residential during the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Equity Residential in the 4th quarter worth approximately $28,000. Allworth Financial LP raised its holdings in shares of Equity Residential by 120.8% in the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 267 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in Equity Residential during the fourth quarter valued at approximately $33,000. Institutional investors own 92.68% of the company’s stock.

Insider Buying and Selling

In other Equity Residential news, Director Mary Kay Haben sold 3,241 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $65.48, for a total transaction of $212,220.68. Following the completion of the transaction, the director now owns 9,720 shares in the company, valued at approximately $636,465.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equity Residential news, Director Mary Kay Haben sold 3,241 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $65.48, for a total transaction of $212,220.68. Following the sale, the director now directly owns 9,720 shares in the company, valued at approximately $636,465.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alexander Brackenridge sold 4,027 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were 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 $4,544,264.01. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Equity Residential Increases Dividend

The firm 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. The ex-dividend date was Friday, March 22nd. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a dividend yield of 4.01%. Equity Residential’s payout ratio is currently 112.03%.

About Equity Residential

(Get Free Report)

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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