Jefferies Financial Group Research Analysts Lift Earnings Estimates for Equity Residential (EQR)

Equity Residential (NYSE:EQR) – Stock analysts at Jefferies Financial Group lifted their FY2019 earnings per share (EPS) estimates for shares of Equity Residential in a report issued on Wednesday, April 10th, according to Zacks Investment Research. Jefferies Financial Group analyst O. Okusanya now forecasts that the real estate investment trust will earn $3.43 per share for the year, up from their prior forecast of $3.42. Jefferies Financial Group also issued estimates for Equity Residential’s Q4 2019 earnings at $0.90 EPS and Q4 2020 earnings at $0.96 EPS.

Equity Residential (NYSE:EQR) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.53). Equity Residential had a net margin of 21.10% and a return on equity of 5.31%. The business had revenue of $662.30 million during the quarter, compared to analyst estimates of $655.00 million. During the same quarter last year, the business posted $0.77 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Raymond James upgraded Equity Residential from an “underperform” rating to a “market perform” rating and set a $75.74 price target on the stock in a report on Thursday, April 11th. BMO Capital Markets reiterated a “hold” rating and issued a $78.00 price target on shares of Equity Residential in a report on Monday, March 25th. Mizuho cut Equity Residential from a “buy” rating to a “neutral” rating and set a $71.00 price target on the stock. in a report on Wednesday, January 23rd. Finally, Barclays reiterated a “hold” rating and issued a $65.00 price target on shares of Equity Residential in a report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $72.48.

Shares of NYSE:EQR traded up $0.19 during midday trading on Friday, reaching $76.59. The company’s stock had a trading volume of 1,862,255 shares, compared to its average volume of 1,233,650. Equity Residential has a fifty-two week low of $59.29 and a fifty-two week high of $77.69. The firm has a market cap of $28.37 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.58. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.13.

Several large investors have recently added to or reduced their stakes in the company. ETRADE Capital Management LLC lifted its holdings in shares of Equity Residential by 0.4% during the 4th 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. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Equity Residential by 3.6% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,000 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 140 shares in the last quarter. Braun Bostich & Associates Inc. lifted its holdings in shares of Equity Residential by 38.0% during the 4th 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. First Manhattan Co. lifted its holdings in shares of Equity Residential by 7.1% during the 1st quarter. First Manhattan Co. now owns 2,168 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 144 shares in the last quarter. Finally, Keybank National Association OH lifted its holdings in shares of Equity Residential by 5.0% during the 4th 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. Institutional investors and hedge funds own 92.60% of the company’s stock.

In other Equity Residential news, Vice Chairman Gerald A. Spector sold 12,938 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $75.00, for a total transaction of $970,350.00. Following the transaction, the insider now owns 290,065 shares in the company, valued at $21,754,875. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Scott Fenster sold 475 shares of Equity Residential stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $72.21, for a total value of $34,299.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 217,803 shares of company stock worth $16,117,049. Company insiders own 3.75% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 25th were issued a dividend of $0.5675 per share. The ex-dividend date was Friday, March 22nd. This represents a $2.27 dividend on an annualized basis and a yield of 2.96%. This is a boost from Equity Residential’s previous quarterly dividend of $0.54. Equity Residential’s dividend payout ratio (DPR) is 69.85%.

Equity Residential Company Profile

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

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