Equity Residential (NYSE:EQR) is reporting third quarter financial results on Tuesday 27th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, EQR is expected to report 3Q20 income of $ 0.35 per share from revenue of $ 642.81 million.
For the full year, analysts anticipate top line of $ 2616.31 million, while looking forward to income of $ 2.02 per share bottom line.
Previous Quarter Performance
Equity Residential outlined income for the second quarter of $ 0.86 per share, from the revenue of $ 653.53 million. The quarterly earnings escalated 3.61 percent while revenues shrunk 2.12 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.36 per share from $ 661.98 million in revenue. The bottom line results beat street analysts by $ 0.5 or 138.89 percent, at the same time, top line results fell short of analysts by $ 8.45 million or 1.28 percent.
Stock Performance
Shares of Equity Residential traded up $ 0.56 or 1.10 percent on Friday, reaching $ 51.31 with volume of 2.48 million shares. Equity Residential has traded high as $ 51.44 and has cracked $ 50.42 on the downward trend
According to the previous trading day, closing price of $ 51.31, representing a 2.28 % increase from the 52 week low of $ 49.62 and a 43.33 % decrease over the 52 week high of $ 89.55.
The company has a market capital of $ 19.10 billion and is part of the Real Estate sector and REIT – Residential industry.
Recent Analyst recommendations
- On 16th October 2020, initiated by UBS Group at Buy rating, with $ 63.00 target price.
- On 1st September 2020, upgraded by Mizuho to Buy from Neutral rating, with $ 63.00 target price.
Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets where todays renters want to live, work and play. Equity Residential owns or has investments in 309 properties consisting of 79,624 apartment units, primarily located in Boston, New York, Washington, D.C., Seattle, San Francisco, Southern California and Denver.
