Equity Residential (NYSE:EQR - Get Free Report) will issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce 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.Parties interested in registering for the company's conference call can do so using this link.
Equity Residential (NYSE:EQR - Get Free Report) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.49). The business had revenue of $734.20 million for the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. On average, analysts expect Equity Residential to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of EQR stock opened at $74.14 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The firm's 50-day moving average is $74.42 and its 200-day moving average is $69.51. The stock 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. Equity Residential has a 52-week low of $52.57 and a 52-week high of $78.83.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were issued a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.64%. Equity Residential's payout ratio is 112.03%.
Several research analysts have weighed in on EQR shares. Wedbush increased their price target on shares of Equity Residential from $68.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Equity Residential from $68.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, September 16th. Bank of America cut shares of Equity Residential from a "buy" rating to a "neutral" rating and raised their target price for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Truist Financial raised their target price on shares of Equity Residential from $73.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Finally, Piper Sandler lifted their price objective on shares of Equity Residential from $80.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $75.97.
Check Out Our Latest Stock Analysis on EQR
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.
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