Equity Residential (EQR) Set to Announce Quarterly Earnings on Wednesday

Equity Residential (NYSE:EQR) will post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Equity Residential to post earnings of $0.98 per share for the quarter. Equity Residential has set its Q3 guidance at $0.96-1.00 EPS and its FY24 guidance at $3.86-3.92 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

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

EQR stock opened at $74.14 on Wednesday. Equity Residential has a 12-month low of $52.57 and a 12-month high of $78.83. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.64. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 6.05 and a beta of 0.89. The company’s fifty day simple moving average is $74.42 and its 200 day simple moving average is $69.51.

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 annualized dividend and a yield of 3.64%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is currently 112.03%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EQR shares. Truist Financial lifted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Wedbush lifted their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of Equity Residential from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company downgraded shares of Equity Residential from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. Finally, UBS Group boosted their target price on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Equity Residential currently has an average rating of “Hold” and a consensus target price of $75.97.

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.