Equity Residential (NYSE:EQR) Releases Q4 Earnings Guidance

Equity Residential (NYSE:EQR) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.98 to $1.02 for the period, compared to the consensus estimate of $1.01.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EQR shares. Piper Sandler raised their target price on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. UBS Group lifted their price target on shares of Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $69.00 to $77.00 in a research note on Monday, August 26th. Wedbush lifted their price target on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, BNP Paribas started 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.97.

Equity Residential Price Performance

EQR traded down $0.29 during midday trading on Wednesday, hitting $73.95. The company had a trading volume of 1,656,157 shares, compared to its average volume of 1,851,744. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The company has a market capitalization of $28.07 billion, a PE ratio of 30.68, a P/E/G ratio of 6.17 and a beta of 0.89. Equity Residential has a twelve month low of $52.57 and a twelve month high of $78.83. The firm’s 50-day simple moving average is $74.79 and its 200-day simple moving average is $69.93.

Equity Residential (NYSE:EQR) last issued 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). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The business had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts predict that Equity Residential will post 3.89 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The business 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. This represents a $2.70 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Tuesday, September 24th. 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.