Equity Residential (NYSE:EQR) Releases Q4 2024 Earnings Guidance

Equity Residential (NYSE:EQR) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.980-1.020 for the period, compared to the consensus earnings per share estimate of 0.980. The company issued revenue guidance of -. Equity Residential also updated its FY 2024 guidance to 3.870-3.910 EPS.

Wall Street Analysts Forecast Growth

EQR has been the topic of several analyst reports. Scotiabank lifted their price target on shares of Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. UBS Group raised their price objective on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their target price on Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, BNP Paribas assumed coverage on shares of Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $75.97.

Equity Residential Stock Performance

NYSE:EQR traded down $2.05 during midday trading on Thursday, reaching $71.90. 1,360,521 shares of the company traded hands, compared to its average volume of 1,849,419. Equity Residential has a twelve month low of $52.57 and a twelve month high of $78.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. The company has a fifty day moving average price of $74.83 and a 200 day moving average price of $69.96. The firm has a market capitalization of $27.29 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 6.17 and a beta of 0.89.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.49). The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 EPS. On average, analysts expect that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were paid a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 annualized dividend and a dividend yield of 3.76%. Equity Residential’s payout ratio is currently 112.03%.

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.