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 guidance of 3.870-3.910 for the period, compared to the consensus earnings per share 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

Several equities research analysts have recently commented on the company. UBS Group upped their target price on Equity Residential from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Wedbush upped their price objective on shares of Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $69.00 to $77.00 in a report on Monday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Truist Financial raised their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Equity Residential has a consensus rating of “Hold” and a consensus target price of $76.19.

Equity Residential Stock Down 1.8 %

Shares of NYSE:EQR traded down $1.25 during midday trading on Friday, hitting $69.12. 2,350,630 shares of the stock were exchanged, compared to its average volume of 1,864,867. The company has a market capitalization of $26.21 billion, a PE ratio of 28.33, a P/E/G ratio of 6.16 and a beta of 0.89. Equity Residential has a 52-week low of $53.28 and a 52-week high of $78.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.21 and a current ratio of 0.21. The business’s fifty day simple moving average is $74.69 and its two-hundred day simple moving average is $70.02.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is presently 110.66%.

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.