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

Equity Residential (NYSE:EQR) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. 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 Down 1.8 %

Shares of Equity Residential stock traded down $1.25 during trading on Friday, hitting $69.12. 2,350,630 shares of the stock traded hands, compared to its average volume of 1,864,867. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $74.69 and its 200 day simple moving average is $70.02. The firm has a market cap of $26.21 billion, a P/E ratio of 28.33, a price-to-earnings-growth 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.

Equity Residential Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.91%. Equity Residential’s dividend payout ratio is presently 110.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EQR shares. Wedbush increased their price target on Equity Residential from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. The Goldman Sachs Group assumed coverage on shares of Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and upped their price target for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Bank of America downgraded Equity Residential from a “buy” rating to a “neutral” rating and upped their target price for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.19.

About Equity Residential

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.