Brokerages expect Equity Residential (NYSE:EQR) to post sales of $623.93 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Equity Residential’s earnings. The lowest sales estimate is $616.46 million and the highest is $634.20 million. Equity Residential reported sales of $605.49 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3%. The firm is scheduled to announce its next earnings results on Tuesday, January 30th.

According to Zacks, analysts expect that Equity Residential will report full-year sales of $623.93 million for the current year, with estimates ranging from $2.46 billion to $2.47 billion. For the next year, analysts expect that the company will post sales of $2.55 billion per share, with estimates ranging from $2.52 billion to $2.58 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Equity Residential.

Several brokerages have recently weighed in on EQR. Jefferies Group reaffirmed a “hold” rating and issued a $65.00 price target on shares of Equity Residential in a research report on Sunday, September 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $68.00 price target on shares of Equity Residential in a research report on Wednesday, September 6th. SunTrust Banks set a $71.00 price target on shares of Equity Residential and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, TheStreet cut shares of Equity Residential from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Equity Residential presently has a consensus rating of “Hold” and an average target price of $69.47.

Shares of Equity Residential (NYSE:EQR) opened at $65.66 on Friday. Equity Residential has a 52-week low of $59.49 and a 52-week high of $70.46. The firm has a market cap of $24,129.07, a P/E ratio of 21.18, a PEG ratio of 3.32 and a beta of 0.36. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.24 and a quick ratio of 0.24.

In other Equity Residential news, insider Alexander Brackenridge sold 6,497 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $69.41, for a total transaction of $450,956.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David J. Neithercut sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $70.17, for a total transaction of $7,017,000.00. The disclosure for this sale can be found here. Insiders have sold 402,380 shares of company stock valued at $27,663,622 in the last three months. 3.79% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of EQR. Cohen & Steers Inc. increased its stake in Equity Residential by 109.4% during the 3rd quarter. Cohen & Steers Inc. now owns 14,548,725 shares of the real estate investment trust’s stock valued at $959,197,000 after purchasing an additional 7,600,203 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Equity Residential by 113.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,724,194 shares of the real estate investment trust’s stock valued at $509,256,000 after purchasing an additional 4,112,438 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Equity Residential by 125.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,461,798 shares of the real estate investment trust’s stock valued at $227,925,000 after purchasing an additional 1,926,438 shares in the last quarter. FMR LLC increased its stake in Equity Residential by 16.4% during the 2nd quarter. FMR LLC now owns 6,697,809 shares of the real estate investment trust’s stock valued at $440,917,000 after purchasing an additional 945,524 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Equity Residential by 2.3% during the 2nd quarter. BlackRock Inc. now owns 34,594,954 shares of the real estate investment trust’s stock valued at $2,277,386,000 after purchasing an additional 794,065 shares in the last quarter. Institutional investors and hedge funds own 94.13% of the company’s stock.

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Equity Residential Company Profile

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

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

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