Market Update (NYSE:EQR): Equity Residential Reports Full Year 2015 Results

[Business Wire] – Equity Residential today reported results for the quarter and year ended December 31, 2015. All per share results are reported as available to common shares on a diluted basis. Read more on this. Equity Residential (EQR) , currently valued at $27.54B, opened this morning at $77.00. Shares have traded today between $74.79 and $77.22 per share with its 52-week range being $61.90 to $82.53. EQR shares are currently priced at 22.18x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 21.52x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $2.21 per share annually in dividends, yielding 2.87%. According to a consensus of 26 analysts, the earnings estimate of $0.92 per share would be $0.05 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $3.46 is a $0.31 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $703.65 Million. If realized, that would be a 6.16% increase over the year-ago quarter. In terms of ratings, JMP Securities downgraded EQR from Mkt Outperform to Mkt Perform (Jan 19, 2016). Previously, Jefferies upgraded EQR from Hold to Buy. The average price target for EQR shares by the analysts covering it is $83.91, which is 8.97% above where the stock opened. See more in (NYSE:EQR) Similar Articles: Market Update (NYSE:EQR): Equity Residential Announces Closing of Sale of 23,262 Apartment Units to Starwood Capital Group for $5.365 Billion Company Update: Equity Residential (NYSE:EQR) – Equity Residential Declares Fourth Quarter Dividends Stock Update: Equity Residential (NYSE:EQR) – Equity Residential Announces Change to Third Quarter 2015 Earnings Release Date and Conference Call