Equities research analysts predict that Equity Residential (NYSE:EQR) will announce $685.04 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Equity Residential’s earnings, with the lowest sales estimate coming in at $679.13 million and the highest estimate coming in at $690.28 million. Equity Residential reported sales of $652.74 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, January 28th.
According to Zacks, analysts expect that Equity Residential will report full year sales of $2.70 billion for the current financial year, with estimates ranging from $2.70 billion to $2.71 billion. For the next financial year, analysts expect that the company will post sales of $2.79 billion, with estimates ranging from $2.77 billion to $2.81 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Equity Residential.
Equity Residential (NYSE:EQR) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.17). Equity Residential had a return on equity of 7.73% and a net margin of 29.88%. The firm had revenue of $685.15 million for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue was up 4.9% on a year-over-year basis.
Shares of EQR traded down $0.77 on Monday, reaching $81.01. 1,759,858 shares of the company’s stock traded hands, compared to its average volume of 1,525,381. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.87. The stock has a market cap of $30.70 billion, a PE ratio of 24.93, a PEG ratio of 3.85 and a beta of 0.42. The stock’s 50 day simple moving average is $85.49 and its two-hundred day simple moving average is $82.55. Equity Residential has a 52-week low of $63.17 and a 52-week high of $89.55.
In other news, EVP Christa L. Sorenson sold 2,378 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $87.60, for a total transaction of $208,312.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Samuel Zell sold 81,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $84.54, for a total transaction of $6,873,102.00. Over the last quarter, insiders have sold 114,730 shares of company stock worth $9,825,372. Insiders own 3.75% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. NEXT Financial Group Inc acquired a new stake in Equity Residential in the second quarter valued at approximately $34,000. Cutler Group LP raised its holdings in shares of Equity Residential by 105.0% in the third quarter. Cutler Group LP now owns 414 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 8,767 shares during the last quarter. LLBH Private Wealth Management LLC purchased a new position in shares of Equity Residential in the second quarter worth $51,000. CSat Investment Advisory L.P. raised its holdings in shares of Equity Residential by 362.5% in the second quarter. CSat Investment Advisory L.P. now owns 666 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 522 shares during the last quarter. Finally, Rational Advisors LLC raised its holdings in shares of Equity Residential by 195.5% in the third quarter. Rational Advisors LLC now owns 591 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 391 shares during the last quarter. Institutional investors own 89.17% of the company’s stock.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where today's renters want to live, work and play. Equity Residential owns or has investments in 307 properties consisting of 79,482 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.
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