Brokers Offer Predictions for Equity Residential’s Q3 2024 Earnings (NYSE:EQR)

Equity Residential (NYSE:EQR) – Equities researchers at Wedbush decreased their Q3 2024 earnings estimates for Equity Residential in a research report issued to clients and investors on Monday, August 5th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $0.98 per share for the quarter, down from their previous forecast of $1.01. Wedbush currently has a “Neutral” rating and a $75.00 target price on the stock. The consensus estimate for Equity Residential’s current full-year earnings is $3.88 per share. Wedbush also issued estimates for Equity Residential’s Q4 2024 earnings at $0.99 EPS and FY2024 earnings at $3.88 EPS.

A number of other equities research analysts have also recently commented on EQR. Piper Sandler raised their price target on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of Equity Residential from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. UBS Group lifted their price objective 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. Royal Bank of Canada lifted their price objective on shares of Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Evercore ISI cut shares of Equity Residential from an “outperform” rating to an “in-line” rating and set a $70.00 price objective for the company. in a report on Monday, May 13th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.91.

Equity Residential Trading Up 0.5 %

NYSE:EQR opened at $70.39 on Wednesday. The company has a current ratio of 0.21, a quick ratio of 0.23 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $26.72 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 4.06 and a beta of 0.87. The firm has a fifty day simple moving average of $68.27 and a two-hundred day simple moving average of $64.47. Equity Residential has a 12 month low of $52.57 and a 12 month high of $72.32.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The company had revenue of $734.20 million during the quarter, compared to analyst estimates of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share.

Institutional Trading of Equity Residential

Hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new stake in Equity Residential in the first quarter worth about $27,000. Allworth Financial LP increased its stake in shares of Equity Residential by 120.8% in the fourth quarter. Allworth Financial LP now owns 488 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 267 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new position in shares of Equity Residential in the fourth quarter worth about $33,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in shares of Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 327 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

Insiders Place Their Bets

In other Equity Residential news, CFO Robert Garechana sold 6,357 shares of Equity Residential stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $69.08, for a total value of $439,141.56. Following the sale, the chief financial officer now owns 14,576 shares of the company’s stock, valued at $1,006,910.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Equity Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were given a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Monday, July 1st. Equity Residential’s dividend payout ratio is 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.