Equity Residential (EQR) Releases Earnings Results, Reports EPS of $0.76 EPS

Equity Residential (EQR) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $0.76 EPS for the quarter. Analysts had a consensus estimate of $0.76. The company posted revenue of $619.10 million in the period, compared to analysts expectations of $657.29 million. The company’s revenue was down -7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

Many Wall Street Analysts have commented on Equity Residential. Equity Residential was Downgraded by BofA/Merrill to ” Neutral” on Apr 11, 2016. Equity Residential was Downgraded by Citigroup to ” Neutral” on Mar 30, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 8, 2016 to “Sector Perform” and Lowered the Price Target to $ 85 from a previous price target of $87 .

Equity Residential opened for trading at $70 and hit $70.88 on the upside on Friday, eventually ending the session at $70.66, with a gain of 1.20% or 0.84 points. The heightened volatility saw the trading volume jump to 18,21,805 shares. Company has a market cap of $25,801 M.

In a different news, on Mar 30, 2016, Mark J. Parrell (Executive Vice President & CFO) sold 36,874 shares at $74.40 per share price. According to the SEC, on Mar 30, 2016, Bruce C Strohm (EVP & General Counsel) sold 9,552 shares at $74.00 per share price. On Mar 22, 2016, Charles L Atwood (director) sold 4,000 shares at $74.11 per share price, according to the Form-4 filing with the securities and exchange commission.

Equity Residential is a real estate investment trust (REIT) focused on the acquisition development and management of apartment properties in the United States growth markets. ERP Operating Limited Partnership (ERPOP) conducts the multifamily residential property business of Equity Residential. The Company is the general partner and owns an approximate 96.2% ownership interest in ERPOP. The remaining 3.8% interest is owned by limited partners. As of December 31 2014 the Company directly or indirectly through investments in title holding entities owned all or a portion of 391 properties located in 12 states and the District of Columbia consisting of 109225 apartment units. All of the Company’s property ownership development and related business operations are conducted through ERPOP.

Equity Residential

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