Equity Residential (NYSE:EQR) – Equities research analysts at Cantor Fitzgerald issued their FY2018 earnings per share estimates for Equity Residential in a research report issued to clients and investors on Friday. Cantor Fitzgerald analyst G. Mehta expects that the real estate investment trust will post earnings of $3.22 per share for the year. Cantor Fitzgerald currently has a “Hold” rating and a $63.00 price target on the stock.
Equity Residential (NYSE:EQR) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.74 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.74. Equity Residential had a return on equity of 7.46% and a net margin of 35.18%. The company had revenue of $604.10 million for the quarter, compared to analyst estimates of $605.69 million. During the same quarter last year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: This piece was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/07/23/equities-analysts-set-expectations-for-equity-residentials-fy2018-earnings-eqr-updated-updated-updated-updated.html.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a report on Tuesday, March 28th. Barclays PLC restated an “equal weight” rating and issued a $64.00 price target (up previously from $62.00) on shares of Equity Residential in a research note on Wednesday, April 19th. Evercore ISI upped their price target on Equity Residential from $62.00 to $63.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 19th. Argus set a $75.00 price target on Equity Residential and gave the stock a “buy” rating in a research note on Thursday, April 27th. Finally, TheStreet downgraded Equity Residential from a “b” rating to a “c+” rating in a research note on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Equity Residential currently has an average rating of “Hold” and an average price target of $66.79.
Equity Residential (NYSE:EQR) traded down 0.30% on Monday, hitting $66.21. The stock had a trading volume of 412,488 shares. The stock has a 50 day moving average price of $65.89 and a 200 day moving average price of $63.67. Equity Residential has a 1-year low of $58.28 and a 1-year high of $71.53. The company has a market cap of $24.31 billion, a P/E ratio of 28.79 and a beta of 0.34.
Several institutional investors have recently added to or reduced their stakes in the stock. Pensionfund Sabic boosted its position in Equity Residential by 15.0% in the first quarter. Pensionfund Sabic now owns 22,953 shares of the real estate investment trust’s stock valued at $1,428,000 after buying an additional 3,000 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Equity Residential by 1,425.3% in the fourth quarter. Macquarie Group Ltd. now owns 12,050,701 shares of the real estate investment trust’s stock worth $775,583,000 after buying an additional 11,260,624 shares in the last quarter. Highbridge Capital Management LLC boosted its position in shares of Equity Residential by 73.4% in the fourth quarter. Highbridge Capital Management LLC now owns 160,600 shares of the real estate investment trust’s stock worth $10,336,000 after buying an additional 68,001 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Equity Residential during the fourth quarter worth approximately $762,000. Finally, Kentucky Retirement Systems bought a new position in shares of Equity Residential during the fourth quarter worth approximately $1,708,000. 95.31% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Alan W. George sold 28,157 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $65.93, for a total transaction of $1,856,391.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael L. Manelis sold 1,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $65.63, for a total value of $65,630.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,871 shares of company stock worth $2,979,034. Company insiders own 3.79% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Monday, June 26th will be paid a dividend of $0.5038 per share. The ex-dividend date of this dividend is Thursday, June 22nd. This represents a $2.02 annualized dividend and a yield of 3.03%. Equity Residential’s dividend payout ratio is 88.21%.
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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