Equity Residential reports results for the quarter ended in March - Earnings Summary

Vivmark Residential

23/04/2024 23:01

* Equity Residential  EQR.N  reported quarterly adjusted
earnings
of 77 cents​​ per share for the quarter ended in March, higher
than the same quarter last year, when the company reported EPS
of 56 cents.  The mean expectation of eleven analysts for the
quarter was for earnings of 33 cents per share. Wall Street
expected results to range from 30 cents to 42 cents per share.
    * Revenue rose 3.6% to $730.82 million from a year ago;
analysts
expected $726.23 million. 
    * Equity Residential's reported EPS for the quarter was 77
cents​.
    * The company reported quarterly net income of $293.8
million.
    * Equity Residential shares had fallen by 0.9% this
quarter and
gained 2.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 16
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the residential
reits
peer group is also "hold"

Wall Street's median 12-month price target for Equity
Residential is $66.00 
This summary was machine generated from LSEG data April 23 at
10:00 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.91           0.87           Missed
 Dec. 31 2023      1.00           1.00           Met
 Sep. 30 2023      0.97           0.96           Missed
 Jun. 30 2023      0.94           0.94           Met