Equity Residential (NYSE:EQR) updated its second quarter 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.670-0.710 for the period. The company issued revenue guidance of -.Equity Residential also updated its FY 2021 guidance to 2.700-2.800 EPS.
Several research firms have recently commented on EQR. Morgan Stanley lifted their target price on Equity Residential from $70.00 to $76.00 and gave the company an equal weight rating in a research note on Monday, March 22nd. Zacks Investment Research raised Equity Residential from a strong sell rating to a hold rating and set a $79.00 price objective for the company in a report on Wednesday, April 21st. Mizuho raised their target price on shares of Equity Residential from $68.00 to $79.00 and gave the company a buy rating in a research note on Monday, March 15th. Bank of America upgraded shares of Equity Residential from a neutral rating to a buy rating and lifted their price target for the stock from $64.00 to $78.00 in a research report on Tuesday, February 9th. Finally, Piper Sandler raised shares of Equity Residential from an underweight rating to a neutral rating and raised their price objective for the company from $54.00 to $76.00 in a research note on Thursday, April 29th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $68.06.
EQR opened at $73.40 on Tuesday. Equity Residential has a twelve month low of $45.42 and a twelve month high of $76.13. The company has a fifty day moving average of $72.86 and a 200-day moving average of $63.52. The stock has a market cap of $27.37 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.78.
Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.68 by ($0.53). Equity Residential had a return on equity of 8.89% and a net margin of 35.97%. Sell-side analysts anticipate that Equity Residential will post 3.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 9th. Stockholders of record on Monday, March 29th were given a dividend of $0.6025 per share. The ex-dividend date of this dividend was Friday, March 26th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 3.28%. Equity Residential's dividend payout ratio (DPR) is presently 69.05%.
In related news, COO Michael L. Manelis sold 10,000 shares of Equity Residential stock in a transaction on Tuesday, March 30th. The shares were sold at an average price of $72.92, for a total value of $729,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christa L. Sorenson sold 343 shares of the business's stock in a transaction on Tuesday, March 30th. The shares were sold at an average price of $73.00, for a total transaction of $25,039.00. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.
About Equity Residential
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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
Recommended Story: Oversold
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Why Invest in Dividend Achievers?8 EV Stocks To Electrify Your Growth Portfolio
If you are looking for the next hot growth market, a market at the intersection of multiple secular trends, look no further than the EV market. Electric vehicles. It may not sound like much, but the days of EV as a fringe market are over.
Think about this. There is an average of 90 million vehicles sold annually. That’s units, not dollars, total sales of vehicles topped $3.1 trillion in 2019, and the number is expected to grow over the long-term.
The EV market is less than 3.% of global vehicle sales, but it’s growing. EV is expected to account for more than 50% of the total auto-fleet by 2050, and that target could be reached much sooner if battery technology advances.
When it comes to the EV market, it’s a “rising tide lifts all ships” kind of market, but there are still some clear winners to focus on.
View the "8 EV Stocks To Electrify Your Growth Portfolio"