Equity Residential (NYSE:EQR) Issues Q2 Earnings Guidance

Equity Residential (NYSE:EQR) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.92-0.96 for the period, compared to the consensus EPS estimate of $0.96.

Equity Residential Trading Up 0.9 %

EQR stock traded up $0.55 on Tuesday, hitting $63.09. 2,479,300 shares of the company were exchanged, compared to its average volume of 2,063,783. Equity Residential has a twelve month low of $52.57 and a twelve month high of $69.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.30 and a quick ratio of 0.30. The business’s fifty day moving average is $61.58 and its two-hundred day moving average is $59.71. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 3.57 and a beta of 0.84.

Equity Residential (NYSE:EQR) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The firm had revenue of $730.80 million during the quarter, compared to analyst estimates of $728.09 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. Equity Residential’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts forecast that Equity Residential will post 3.86 earnings per share for the current year.

Equity Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were paid a dividend of $0.675 per share. This is an increase from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Friday, March 22nd. Equity Residential’s payout ratio is currently 122.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays decreased their price objective on shares of Equity Residential from $69.00 to $67.00 and set an equal weight rating for the company in a research note on Tuesday, February 20th. BMO Capital Markets upgraded shares of Equity Residential from a market perform rating to an outperform rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Monday. Truist Financial decreased their target price on shares of Equity Residential from $71.00 to $67.00 and set a buy rating for the company in a research note on Tuesday, April 9th. Piper Sandler restated a neutral rating and issued a $62.00 target price on shares of Equity Residential in a research note on Tuesday, March 26th. Finally, The Goldman Sachs Group restated a buy rating and issued a $70.00 target price on shares of Equity Residential in a research note on Thursday, February 22nd. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $65.75.

Insiders Place Their Bets

In other Equity Residential news, CAO Ian Kaufman sold 716 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total transaction of $41,384.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,949 shares of the company’s stock, valued at approximately $1,384,252.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Robert Garechana sold 876 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $50,632.80. Following the transaction, the chief financial officer now directly owns 20,933 shares in the company, valued at approximately $1,209,927.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ian Kaufman sold 716 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $41,384.80. Following the completion of the transaction, the chief accounting officer now owns 23,949 shares in the company, valued at $1,384,252.20. The disclosure for this sale can be found here. Insiders sold a total of 3,280 shares of company stock valued at $192,335 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Equity Residential Company Profile

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.