Equity Residential (NYSE:EQR) Releases FY 2024 Earnings Guidance

Equity Residential (NYSE:EQR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.870-3.910 for the period, compared to the consensus estimate of 3.900. The company issued revenue guidance of -. Equity Residential also updated its Q4 guidance to $0.98 to $1.02 EPS.

Analyst Ratings Changes

A number of research firms recently weighed in on EQR. Wedbush upped their target price on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. BNP Paribas started coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price target for the company. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $83.00 in a research note on Tuesday, September 10th. Scotiabank boosted their price target on shares of Equity Residential from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Finally, UBS Group boosted their price target on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $75.97.

Equity Residential Trading Down 0.4 %

EQR traded down $0.29 during trading on Wednesday, hitting $73.95. 1,656,157 shares of the stock traded hands, compared to its average volume of 1,851,744. The firm has a market capitalization of $28.07 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 6.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.21 and a quick ratio of 0.21. The firm has a 50-day moving average of $74.79 and a 200 day moving average of $69.93. Equity Residential has a 12-month low of $52.57 and a 12-month high of $78.83.

Equity Residential (NYSE:EQR) last issued its quarterly earnings data 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). Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The company had revenue of $734.20 million during the quarter, compared to the consensus estimate of $735.26 million. During the same quarter last year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Equity Residential will post 3.89 EPS for the current year.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were issued a $0.675 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 annualized dividend and a yield of 3.65%. Equity Residential’s dividend payout ratio (DPR) is presently 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.