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Equity Residential (NYSE:EQR) Updates Q2 2021 Earnings Guidance

Tuesday, May 4, 2021 | MarketBeat

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.

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Earnings History and Estimates for Equity Residential (NYSE:EQR)

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