Equity Residential (NYSE:EQR) Issues Q3 2022 Earnings Guidance

Equity Residential (NYSE:EQRGet Rating) issued an update on its third quarter 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $0.89-$0.93 for the period. The company issued revenue guidance of -. Equity Residential also updated its FY 2022 guidance to $3.48-$3.58 EPS.

Analysts Set New Price Targets

Several research firms have commented on EQR. Scotiabank cut their price target on Equity Residential from $92.00 to $90.00 in a report on Thursday, May 19th. Royal Bank of Canada raised Equity Residential from a sector perform rating to an outperform rating and dropped their target price for the stock from $95.00 to $79.00 in a report on Wednesday, June 22nd. TheStreet cut Equity Residential from a b rating to a c+ rating in a report on Friday, May 6th. Credit Suisse Group initiated coverage on Equity Residential in a report on Wednesday, June 22nd. They issued an outperform rating and a $80.00 target price for the company. Finally, Mizuho dropped their target price on Equity Residential from $84.00 to $79.00 and set a buy rating for the company in a report on Monday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Equity Residential has an average rating of Hold and an average target price of $84.18.

Equity Residential Stock Up 0.4 %

Shares of EQR opened at $75.22 on Friday. The firm has a market capitalization of $28.29 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 3.20 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.19 and a current ratio of 0.24. The business’s fifty day moving average price is $73.08 and its two-hundred day moving average price is $81.34. Equity Residential has a 52 week low of $67.48 and a 52 week high of $94.32.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Monday, June 27th were given a $0.625 dividend. The ex-dividend date was Friday, June 24th. This represents a $2.50 dividend on an annualized basis and a yield of 3.32%. Equity Residential’s payout ratio is 75.08%.

Insider Buying and Selling at Equity Residential

In other news, Director Mark S. Shapiro sold 6,665 shares of the firm’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $70.10, for a total value of $467,216.50. Following the transaction, the director now directly owns 12,497 shares in the company, valued at approximately $876,039.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EQR. Avalon Investment & Advisory raised its stake in Equity Residential by 1.3% during the 1st quarter. Avalon Investment & Advisory now owns 173,798 shares of the real estate investment trust’s stock worth $15,628,000 after buying an additional 2,312 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in Equity Residential by 12.8% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 4,911 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 559 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in Equity Residential by 717.2% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 72,839 shares of the real estate investment trust’s stock worth $6,550,000 after buying an additional 63,926 shares during the period. Beacon Pointe Advisors LLC acquired a new stake in Equity Residential during the 1st quarter worth $3,092,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Equity Residential in the 1st quarter valued at about $287,000. 91.43% of the stock is currently owned by institutional investors.

Equity Residential Company Profile

(Get Rating)

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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

Further Reading

Earnings History and Estimates for Equity Residential (NYSE:EQR)

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