Wall Street brokerages forecast that Equity Residential (NYSE:EQR) will report $653.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Equity Residential’s earnings. The highest sales estimate is $659.00 million and the lowest is $643.23 million. Equity Residential reported sales of $633.02 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The firm is scheduled to issue its next earnings report on Tuesday, April 23rd.
On average, analysts expect that Equity Residential will report full year sales of $2.65 billion for the current fiscal year, with estimates ranging from $2.64 billion to $2.67 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.73 billion, with estimates ranging from $2.71 billion to $2.76 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Equity Residential.
Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, January 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.54). The business had revenue of $652.55 million for the quarter, compared to the consensus estimate of $652.35 million. Equity Residential had a return on equity of 6.31% and a net margin of 25.50%. Equity Residential’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS.
Shares of NYSE:EQR opened at $74.98 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $27.86 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 3.77 and a beta of 0.59. Equity Residential has a twelve month low of $59.29 and a twelve month high of $75.71.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Monday, March 25th will be issued a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from Equity Residential’s previous quarterly dividend of $0.54. The ex-dividend date is Friday, March 22nd. Equity Residential’s dividend payout ratio is presently 69.85%.
In related news, insider Alan W. George sold 23,993 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $74.76, for a total value of $1,793,716.68. Following the sale, the insider now directly owns 70,575 shares of the company’s stock, valued at $5,276,187. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Fenster sold 475 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $72.21, for a total transaction of $34,299.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,803 shares of company stock worth $19,724,549. Insiders own 3.75% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ETRADE Capital Management LLC raised its stake in Equity Residential by 0.4% in the fourth quarter. ETRADE Capital Management LLC now owns 39,176 shares of the real estate investment trust’s stock valued at $2,586,000 after purchasing an additional 138 shares in the last quarter. Braun Bostich & Associates Inc. raised its stake in Equity Residential by 38.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 516 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 142 shares in the last quarter. Keybank National Association OH raised its stake in Equity Residential by 5.0% in the fourth quarter. Keybank National Association OH now owns 3,454 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 164 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Equity Residential by 3.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,174 shares of the real estate investment trust’s stock valued at $342,000 after purchasing an additional 174 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in Equity Residential by 6.2% in the fourth quarter. Advisor Group Inc. now owns 3,069 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 179 shares in the last quarter. 92.38% of the stock is currently owned by institutional investors and hedge funds.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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