Equity Residential (EQR) Scheduled to Post Quarterly Earnings on Tuesday

Equity Residential (NYSE:EQR - Get Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Equity Residential to post earnings of $0.90 per share for the quarter. Individual interested in listening to the company's earnings conference call can do so using this link.

Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.18). Equity Residential had a net margin of 29.07% and a return on equity of 7.43%. The firm had revenue of $727.50 million during the quarter, compared to analyst estimates of $725.07 million. During the same period last year, the business earned $0.94 EPS. The firm's revenue was up 4.0% compared to the same quarter last year. 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 Stock Down 1.6 %

NYSE:EQR traded down $0.97 during trading hours on Tuesday, hitting $59.69. The stock had a trading volume of 1,358,304 shares, compared to its average volume of 2,060,533. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.66. The company has a market cap of $22.66 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 3.58 and a beta of 0.84. The business has a 50 day simple moving average of $61.38 and a two-hundred day simple moving average of $59.61.

Equity Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were given a dividend of $0.675 per share. The ex-dividend date was Friday, March 22nd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.52%. This is an increase from Equity Residential's previous quarterly dividend of $0.66. Equity Residential's dividend payout ratio (DPR) is presently 122.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EQR shares. Truist Financial decreased their price target on shares of Equity Residential from $71.00 to $67.00 and set a "buy" rating for the company in a research report on Tuesday, April 9th. Royal Bank of Canada raised their price target on shares of Equity Residential from $65.00 to $66.00 and gave the stock an "outperform" rating in a research report on Thursday, February 1st. Piper Sandler restated a "neutral" rating and set a $62.00 price objective on shares of Equity Residential in a research note on Tuesday, March 26th. Barclays lowered their target price on shares of Equity Residential from $69.00 to $67.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 20th. Finally, Mizuho lowered their target price on shares of Equity Residential from $62.00 to $61.00 and set a "neutral" rating for the company in a research note on Wednesday, February 28th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $65.32.

Insider Buying and Selling

In related news, COO Michael L. Manelis sold 1,639 shares of the company's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.43, for a total value of $97,405.77. Following the completion of the sale, the chief operating officer now owns 31,053 shares of the company's stock, valued at $1,845,479.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equity Residential news, COO Michael L. Manelis sold 1,639 shares of the business's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.43, for a total value of $97,405.77. Following the sale, the chief operating officer now directly owns 31,053 shares in the company, valued at $1,845,479.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ian Kaufman sold 716 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 $41,384.80. Following the completion of 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 sold 3,280 shares of company stock valued at $192,335 over the last 90 days. 1.69% of the stock is currently owned by company insiders.

Institutional Trading of Equity Residential

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Equity Residential in the 4th quarter valued at about $1,822,309,000. State Street Corp grew its stake in shares of Equity Residential by 5.4% in the 1st quarter. State Street Corp now owns 24,983,779 shares of the real estate investment trust's stock valued at $1,515,182,000 after buying an additional 1,269,082 shares in the last quarter. Long Pond Capital LP bought a new stake in shares of Equity Residential in the 4th quarter valued at approximately $63,361,000. Davis Asset Management L.P. bought a new stake in shares of Equity Residential in the 4th quarter valued at approximately $61,160,000. Finally, Invesco Ltd. grew its stake in shares of Equity Residential by 34.9% in the 1st quarter. Invesco Ltd. now owns 3,647,722 shares of the real estate investment trust's stock valued at $328,002,000 after buying an additional 943,870 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company's stock.

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.