Equity Residential (NYSE:EQR) Updates Q4 2024 Earnings Guidance

by · The Markets Daily

Equity Residential (NYSE:EQR – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.980-1.020 for the period, compared to the consensus earnings per share estimate of 0.980. The company issued revenue guidance of -. Equity Residential also updated its FY 2024 guidance to 3.870-3.910 EPS.

Equity Residential Trading Down 0.4 %

EQR stock traded down $0.29 during trading on Wednesday, hitting $73.95. The company had a trading volume of 1,656,157 shares, compared to its average volume of 1,851,744. The firm has a 50-day moving average price of $74.79 and a 200-day moving average price of $69.93. The stock has a market cap of $28.07 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 6.17 and a beta of 0.89. 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.

Equity Residential (NYSE:EQR – Get Free Report) last issued its 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 net margin of 32.83% and a return on equity of 8.53%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, analysts predict that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Tuesday, September 24th. Equity Residential’s payout ratio is 112.03%.

Analyst Ratings Changes

EQR has been the subject of several recent research reports. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $69.00 to $77.00 in a research report on Monday, August 26th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and boosted their price target for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Truist Financial boosted their price target on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wedbush boosted 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. Finally, Piper Sandler boosted their price target on shares of Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $75.97.

View Our Latest Report on EQR

About Equity Residential

(Get Free Report)

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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