Last $61.94 USD
Change Today +0.54 / 0.88%
Volume 6.2M
EQR On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

equity residential (EQR) Snapshot

Open
$61.64
Previous Close
$61.40
Day High
$61.96
Day Low
$61.32
52 Week High
09/8/14 - $67.91
52 Week Low
11/26/13 - $50.08
Market Cap
22.4B
Average Volume 10 Days
2.9M
EPS TTM
$0.62
Shares Outstanding
361.7M
EX-Date
09/18/14
P/E TM
100.1x
Dividend
$2.00
Dividend Yield
3.47%
Current Stock Chart for EQUITY RESIDENTIAL (EQR)

equity residential (EQR) Related Businessweek News

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equity residential (EQR) Details

Equity Residential, a real estate investment trust (REIT), engages in the acquisition, development, and management of multifamily properties in the United States. As of December 31, 2007, it owned and invested in 579 properties in 24 states and the District of Columbia consisting of 152,821 units. The company qualifies as a REIT for federal income tax purposes. As a REIT, it would not be subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its shareholders. Equity Residential was founded in 1966 and is headquartered in Chicago, Illinois.

3,600 Employees
Last Reported Date: 08/7/14
Founded in 1966

equity residential (EQR) Top Compensated Officers

Chief Executive Officer, President, Trustee a...
Total Annual Compensation: $900.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $500.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $600.0K
Chief Investment Officer and Executive Vice P...
Total Annual Compensation: $600.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $500.0K
Compensation as of Fiscal Year 2013.

equity residential (EQR) Key Developments

Equity Residential Declares Third Quarter Common Stock Dividend Payable on October 10, 2014 and on Series K Preferred Shares, Payable on September 30, 2014

Equity Residential announced that its board of trustees declared dividends on the company's common and preferred shares. A common share dividend for the third quarter of $0.50 per share will be paid on October 10, 2014 to shareholders of record on September 22, 2014. The company also announced a quarterly dividend of $1.03625 per share will be paid on September 30, 2014 to shareholders of record on September 19, 2014 of the company's Series K Preferred Shares.

Equity Residential Presents at Barclays 2014 Global Financial Services Conference, Sep-09-2014 04:15 PM

Equity Residential Presents at Barclays 2014 Global Financial Services Conference, Sep-09-2014 04:15 PM. Venue: Hilton Midtown, 1335 Avenue of the Americas, New York, New York, United States. Speakers: David J. Neithercut, Chief Executive Officer, President, Trustee and Member of Executive Committee.

Equity Residential Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

Equity Residential reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $1,286,010,000 compared to $1,121,939,000 a year ago. Operating income was $427,556,000 compared to $168,223,000 a year ago. FFO (Funds from Operations) was $0.77 per share compared to $0.73 per share in the second quarter of 2013. The company reported Normalized FFO of $0.78 per share compared to $0.71 per share in the same period of 2013. The company reported earnings of $0.31 per share compared to $0.90 per share in the second quarter of 2013. The difference is due primarily to higher gains on property sales in the second quarter of 2013 partially offset by higher depreciation expense in the second quarter of 2013. Income from continuing operations was $183,987,000 compared to loss from continuing operations of $223,850,000 a year ago. Net income was $200,452,000 compared to $1,397,766,000 a year ago. Net income available to common Shares was $189,753,000 compared to $1,340,373,000 a year ago. Basic and diluted income from continuing operations available to common shares was $0.52 compared to basic loss from continuing operations available to common shares of $0.62 a year ago. Same-store revenues increased by 4.1%. For the six months, the company’s FFO was $1.48 per share compared to $0.97 per share in the same period of 2013. The difference is due primarily to the acquisition expenses and prepayment penalties the company incurred in the first six months of 2013. The company reported Normalized FFO of $1.49 per share compared to $1.35 per share for the same period of 2013. The company reported earnings of $0.52 per share compared to $3.84 per share for the same period of 2013. The difference is due primarily to higher gains on property sales in the first six months of 2013 partially offset by higher depreciation expense, acquisition expenses and prepayment penalties incurred in the first six months of 2013. Total revenues were $652,568,000 compared to $617,217,000 a year ago. Operating income was $228,304,000 compared to $63,977,000 a year ago. Income from continuing operations was $102,307,000 compared to loss from continuing operations of $58,511,000 a year ago. Net income was $117,720,000 compared to $336,732,000 a year ago. Net income available to common Shares was $111,654,000 compared to $323,723,000 a year ago. Basic and diluted income from continuing operations available to common shares was $0.31 compared to basic loss from continuing operations available to common shares of $0.16 a year ago. Same-store revenues increased 4%. The company provided earnings guidance for the third quarter and full year of 2014. The company has established a Normalized FFO guidance range of $0.77 to $0.81 per share for the third quarter of 2014. The difference between the company's second quarter Normalized FFO of $0.78 per share and the midpoint of the third quarter guidance range of $0.79 per share is due primarily to: The positive impact of approximately $0.01 per share from same store and lease up NOI; The positive impact of approximately $0.01 per share from lower G&A expenses; Diluted earnings expected to be of $0.68 to $0.72. For the full year, the company expects diluted earnings per share to be in the range of $1.63 to $1.67. Diluted FFO expected to be of $3.06 to $3.10. Diluted Normalized FFO expected to be in the range of $3.08 to $3.12. The company increased full year targeted range on same-store revenues to 3.9% to 4.1%. And that's up from 3% to 4% from February guidance. The company narrowed expectations on expense growth to a range of 2.25% to 2.75% and that all results in an expected net operating income range of 4.5% to 5%.

 

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Industry Analysis

EQR

Industry Average

Valuation EQR Industry Range
Price/Earnings 100.0x
Price/Sales 8.8x
Price/Book 2.2x
Price/Cash Flow 14.8x
TEV/Sales 4.1x
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