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

Equity Residential (NYSE:EQR) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.980-1.020 for the period, compared to the consensus EPS 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 Stock Performance

Shares of EQR traded down $0.29 during mid-day trading on Wednesday, hitting $73.95. 1,656,157 shares of the company’s stock were exchanged, 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 P/E/G ratio of 6.17 and a beta of 0.89. Equity Residential has a fifty-two week low of $52.57 and a fifty-two week high of $78.83. The business’s 50 day moving average is $74.83 and its two-hundred day moving average is $69.96. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64.

Equity Residential (NYSE:EQR) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.49). The company had revenue of $734.20 million for the quarter, compared to analyst estimates of $735.26 million. Equity Residential had a return on equity of 8.53% and a net margin of 32.83%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 earnings per share. On average, equities analysts expect that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were issued 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 of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is presently 112.03%.

Wall Street Analysts Forecast Growth

EQR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Wedbush raised their price target on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, August 5th. The Goldman Sachs Group assumed coverage on Equity Residential in a report on Wednesday, September 4th. They set a “neutral” rating and a $81.00 price objective on the stock. Finally, Piper Sandler boosted their target price on shares of Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Equity Residential currently has an average rating of “Hold” and a consensus price target of $75.97.

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.