Equity Residential (NYSE:EQR – Get Free Report) 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 Upgrades and Downgrades
Several research analysts have issued reports on the stock. UBS Group increased their target price on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price target for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Scotiabank increased their price objective on shares of Equity Residential from $77.00 to $81.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Truist Financial increased their price objective on shares of Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Evercore ISI increased their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Equity Residential currently has an average rating of “Hold” and a consensus price target of $76.19.
Check Out Our Latest Research Report on Equity Residential
Equity Residential Price Performance
Equity Residential Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 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.
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