Q2 2024 Earnings Estimate for Equity Residential (NYSE:EQR) Issued By Wedbush

Equity Residential (NYSE:EQR) – Stock analysts at Wedbush lifted their Q2 2024 earnings per share estimates for Equity Residential in a research report issued on Monday, April 29th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $0.96 for the quarter, up from their previous estimate of $0.95. Wedbush has a “Neutral” rating and a $68.00 price target on the stock. The consensus estimate for Equity Residential’s current full-year earnings is $3.85 per share. Wedbush also issued estimates for Equity Residential’s Q3 2024 earnings at $1.01 EPS, Q4 2024 earnings at $1.04 EPS and FY2025 earnings at $4.06 EPS.

Several other research firms also recently weighed in on EQR. Piper Sandler lifted their target price on Equity Residential from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday. Mizuho dropped their price target on Equity Residential from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group restated a “buy” rating and set a $70.00 price target on shares of Equity Residential in a research note on Thursday, February 22nd. Evercore ISI increased their price objective on shares of Equity Residential from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Equity Residential in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Equity Residential presently has an average rating of “Hold” and an average target price of $67.04.

Equity Residential Stock Up 0.2 %

Shares of NYSE:EQR opened at $65.30 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.23 and a quick ratio of 0.30. The business has a 50 day simple moving average of $62.10 and a two-hundred day simple moving average of $59.87. Equity Residential has a 1 year low of $52.57 and a 1 year high of $69.45. The firm has a market capitalization of $24.74 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 3.78 and a beta of 0.84.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $730.80 million for the quarter, compared to analyst estimates of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. Equity Residential’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS.

Equity Residential Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors 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 4.13%. The ex-dividend date was Friday, March 22nd. Equity Residential’s dividend payout ratio is presently 112.03%.

Insiders Place Their Bets

In other Equity Residential news, CFO Robert Garechana sold 876 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $50,632.80. Following the completion of the transaction, the chief financial officer now owns 20,933 shares in the company, valued at $1,209,927.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Robert Garechana sold 876 shares of the business’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 $50,632.80. Following the completion of the transaction, the chief financial officer now directly owns 20,933 shares of the company’s stock, valued at $1,209,927.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ian Kaufman sold 716 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total transaction of $41,384.80. Following the sale, 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 have sold a total of 3,280 shares of company stock worth $192,335 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Equity Residential

A number of large investors have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. lifted its stake in Equity Residential by 593.9% in the third quarter. Financial Gravity Asset Management Inc. now owns 458 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 392 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Equity Residential during the fourth quarter worth about $28,000. Allworth Financial LP increased its position in Equity Residential by 120.8% during the 4th quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 267 shares during the period. Voisard Asset Management Group Inc. purchased a new position in Equity Residential in the fourth quarter worth $33,000. Finally, AdvisorNet Financial Inc acquired a new stake in shares of Equity Residential in the fourth quarter valued at about $34,000. 92.68% of the stock is owned by institutional investors and hedge funds.

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.