Equity Residential (EQR) to Release Earnings on Wednesday

Equity Residential (NYSE:EQR) will be posting its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Equity Residential to post earnings of $0.98 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Equity Residential (NYSE:EQR) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share 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 net margin of 32.83% and a return on equity of 8.53%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. On average, analysts expect Equity Residential to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Equity Residential Price Performance

NYSE:EQR opened at $74.67 on Monday. Equity Residential has a 52-week low of $52.57 and a 52-week high of $78.83. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. The firm has a market cap of $28.34 billion, a P/E ratio of 30.98, a PEG ratio of 6.17 and a beta of 0.89. The business’s 50-day moving average price is $74.68 and its 200 day moving average price is $69.76.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.62%. Equity Residential’s payout ratio is currently 112.03%.

Analysts Set New Price Targets

A number of analysts recently weighed in on EQR shares. Scotiabank raised their target price on shares of Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Wedbush boosted their target price on Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Finally, Evercore ISI boosted their price objective on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.97.

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.