eastunder
7 years ago
Equity Residential (EQR) Q3 FFO In Line, Revenues Beat
October 26, 2016
http://finance.yahoo.com/news/equity-residential-eqr-q3-ffo-131701882.html
Equity Residential EQR came up with third-quarter 2016 normalized funds from operations (“FFO”) per share of 78 cents, in line with the Zacks Consensus Estimate. However, it was down from 89 cents reported in the year-ago quarter.
Results reflected the adverse impact on net operating income (“NOI”), stemming from the company’s 2016 huge disposition activity. However, the negative was partly mitigated by enhanced NOI from same-store properties and non-same store properties currently in lease-up. Moreover, the company’s total interest expense declined due to lower debt balances.
According to the company, demand for rental units in urban and high density, close-in suburban markets has been high. However, increasing new apartment supply, along with a slowdown in high-paying jobs, are anticipated to put pressure on rental rates, thereby adversely affecting the company’s revenue growth this year.
Total revenue during the reported quarter was $606.1 million, reflecting a 13.0% decline from the prior-year period. However, the figure managed to beat the Zacks Consensus Estimate of $599 million.
Quarter in Detail
Same-store revenues (includes 72,229 apartment units) increased 3.4% year over year to $563.9 million and expenses climbed 5.9% from a year ago to $168.7 million. As a result, same-store NOI grew 2.4% year over year to $395.2 million.
The company experienced a 3.4% increase in average rental rates to $2,602, while occupancy contracted 20 basis points year over year to 96.0% for the same-store portfolio.
It exited third-quarter 2016 with cash and cash equivalents of $517.6 million, up from $497.8 million at the end of the prior quarter.
Portfolio Activity
During the third quarter, Equity Residential purchased a 94-unit apartment property in Los Angeles for around $45.2 million. On the other hand, the company sold eight consolidated apartment properties for approximately $140.6 million. During the quarter, the company also sold a land parcel in Berkeley, California for $30.0 million, along with an unconsolidated property in Atlanta and received around $12.4 million for its 20% stake.
Further, during the quarter, the company stabilized three development properties. This included 170 Amsterdam in New York, Azure in San Francisco and Odin in Seattle, at a weighted average projected yield of 5.8%.
Outlook
Equity Residential has revised its 2016 guidance and expects normalized FFO per share in the $3.06–$3.10 range against the prior guidance of $3.05–$3.11. The Zacks Consensus Estimate of $3.07 falls within this range.
For the same-store portfolio, the company expects physical occupancy to be 96.0%, compared to the prior outlook of 95.9%; revenue to register growth of 3.6–3.9% compared with 3.5–4.0% increase predicted earlier and NOI to climb 3.8–4.1%, compared with the previous guided range of 3.75–4.25%.
For fourth-quarter 2016, the company projects normalized FFO per share in the range of 77–81 cents. The Zacks Consensus Estimate is currently pegged at 79 cents.
Our Viewpoint
Going forward, the company is expected to benefit from its portfolio-repositioning efforts, growth in the millennial population, lifestyle transformation and creation of new households, though huge asset dispositions and elevated deliveries remain headwinds.
The company currently carries a Zacks Rank #2 (Buy).
eastunder
8 years ago
Equity Residential to Pay $8 Special Dividend on Asset Sale
http://finance.yahoo.com/news/equity-residential-pay-8-special-205008779.html
by Zacks Equity Research Published on February 23, 2016 |
Ushering in good news for its shareholders, Equity Residential (EQR - Analyst Report) recently announced a special cash dividend of $8.00 per common share, which is primarily the outcome of a non-core assets sale worth over $6 billion. The special dividend will be paid on Mar 10, 2016 to shareholders of record on Mar 3.
Further, this residential real estate investment trust (REIT) revealed that its non-core assets sale generated an unlevered internal rate of return of 11.3%. Following these assets sale, the company intends to focus exclusively on owning, building and operating assets in coastal gateway cities, specifically higher-density urban locations that are situated close to public transportation, job centers as well as other amenities.
Notably, concurrent with its third-quarter earnings release, the company had revealed its deal to sell 72 properties to Starwood Capital Group, through a controlled affiliate, for $5.365 billion.
At the same time, the company had also disclosed plans to shed another 26 assets in several submarkets, mainly in Connecticut and the non-core submarkets of Massachusetts, in 2016. Certain other assets in core markets may also be disposed this year. On Jan 27, 2016, the company completed the sale of 72 properties to controlled affiliates of Starwood Capital Group.
Also, apart from the above-mentioned special dividend, the company has plans for an additional special dividend of around $2.00–$4.00 per share, to be paid later this year, from proceeds of additional asset sales.
Along with special dividends, the company would continue to pay its regular quarterly dividend. In fact, it expects to declare the record and payment dates for its regular first-quarter dividend on Mar 11, 2016.
Usually, special dividends are paid by REITs on capital gains from assets sales to avoid paying tax. Notably, solid dividend payouts remain arguably the biggest attraction for REIT investors as the U.S. law requires these companies to distribute 90% of their annual taxable income in the form of dividends to shareholders.
Equity Residential currently carries a Zacks Rank #3 (Hold). Investors interested in the residential REIT industry may consider stocks like Avalonbay Communities Inc. (AVB - Analyst Report), Essex Property Trust Inc. (ESS - Analyst Report) and Mid-America Apartment Communities Inc. (MAA - Snapshot Report). All these stocks hold a Zacks Rank #2 (Buy).
- See more at: http://www.zacks.com/stock/news/208335/equity-residential-to-pay-8-special-dividend-on-asset-sale#sthash.ZQtiXPUM.dpuf
Penny Roger$
12 years ago
~ $EQR ~Multi chart fix and On the house shots of DD!! Version 3.2.3
~ Barchart: http://barchart.com/quotes/stocks/EQR?
~ OTC Markets: http://www.otcmarkets.com/stock/EQR/company-info
~ Google Finance: http://www.google.com/finance?q=EQR
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=EQR#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=EQR+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=EQR
Finviz: http://finviz.com/quote.ashx?t=EQR
~ BusyStock: http://busystock.com/i.php?s=EQR&v=2
~ CandlestickChart: http://www.candlestickchart.com/cgi/chart.cgi?symbol=EQR&exchange=US
~ Investorshub Trades: http://ih.advfn.com/p.php?pid=trades&symbol=EQR
~ Investorshub Board Search: http://investorshub.advfn.com/boards/getboards.aspx?searchstr=EQR
~ Investorshub PostStream Search: http://investorshub.advfn.com/boards/poststream.aspx?ticker=EQR
~ Investorshub Goodies Search: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=23391&srchyr=2011&SearchStr=EQR
~ Investorshub Message Search: http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=EQR
~ MarketWatch: http://www.marketwatch.com/investing/stock/EQR/profile
~ E-Zone Chart: http://www.windchart.com/ezone/signals/?symbol=EQR
~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=EQR
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=EQR&size=l&frequency=10&color=g
~ 30-Min Wind: http://www.windchart.com/stockta/analysis?symbol=EQR&size=l&frequency=30&color=g
~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=EQR&size=l&frequency=60&color=g
DTCC (PENSON/TDA) Check - (otc and pinks) - Note ~ I did not check for this chart blast. However, I try and help you to do so with the following links.
IHUB DTCC BOARD SEARCH #1 http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=EQR
IHUB DTCC BOARD SEARCH #2: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14482&srchyr=2011&SearchStr=EQR
Check those searches for recent EQR mentions. If EQR is showing up on older posts and not on new posts found in link below, The DTCC issues may have been addressed and fixed. Always call the broker if your security turns up on any DTCC/PENSON list.
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=Complete+list
For a cEQRnt list see the pinned threads at the top here ---> http://tinyurl.com/TWO-OLD-FARTS
Volume, MACD, ADX 3 EMA Par sar - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=8&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=16&lf=1&lf2=4&lf3=1024&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=25&y=5
RSI, Money Flow, Volume Accumulation, 3sma, Bollinger bands - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=8&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=4&maval=9&uf=8&lf=2&lf2=512&lf3=4096&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=36&y=14
Price Channel, Momentum, Volatility Slow, P/E Ratio - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=8&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=2&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=128&lf=65536&lf2=16384&lf3=16777216&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=28&y=15
Volume, MACD, ADX 3 EMA Par sar - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=6&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=16&lf=1&lf2=4&lf3=1024&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=39&y=17
RSI, Money Flow, Volume Accumulation, 3sma, Bollinger bands - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=6&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=4&maval=9&uf=8&lf=2&lf2=512&lf3=4096&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=35&y=12
Price Channel, Momentum, Volatility Slow, P/E Ratio - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=6&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=128&lf=65536&lf2=16384&lf3=16777216&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=23&y=19
Volume, MACD, ADX 3 EMA Par sar - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=18&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=8&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=16&lf=1&lf2=4&lf3=1024&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=38&y=6
RSI, Money Flow, Volume Accumulation, 3sma, Bollinger bands - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=18&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=8&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=4&maval=9&uf=8&lf=2&lf2=512&lf3=4096&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=30&y=11
Price Channel, Momentum, Volatility Slow, P/E Ratio - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=&symb=EQR&time=18&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=8&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=128&lf=65536&lf2=16384&lf3=16777216&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=35&y=14
Volume, MACD, ADX 3 EMA Par sar - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=3&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=16&lf=1&lf2=4&lf3=1024&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=39&y=14
RSI, Money Flow, Volume Accumulation, 3sma, Bollinger bands - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=3&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=4&maval=9&uf=8&lf=2&lf2=512&lf3=4096&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=20&y=16
Price Channel, Momentum, Volatility Slow, P/E Ratio - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=3&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=128&lf=65536&lf2=16384&lf3=16777216&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=46&y=6
Volume, MACD, ADX 3 EMA Par sar - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=1&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=6&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=16&lf=1&lf2=4&lf3=1024&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=42&y=20
RSI, Money Flow, Volume Accumulation, 3sma, Bollinger bands - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=1&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=6&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=4&maval=9&uf=8&lf=2&lf2=512&lf3=4096&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=36&y=11
Price Channel, Momentum, Volatility Slow, P/E Ratio - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=1&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=6&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=128&lf=65536&lf2=16384&lf3=16777216&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=46&y=11
Volume, MACD, ADX 3 EMA Par sar - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=1&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=9&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=16&lf=1&lf2=4&lf3=1024&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=31&y=14
RSI, Money Flow, Volume Accumulation, 3sma, Bollinger bands - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=1&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=9&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=4&maval=9&uf=8&lf=2&lf2=512&lf3=4096&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=23&y=15
Price Channel, Momentum, Volatility Slow, P/E Ratio - http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=True&insttype=Stock&symb=EQR&time=1&startdate=1%2F4%2F1999&enddate=11%2F21%2F2011&freq=9&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=6&maval=9&uf=128&lf=65536&lf2=16384&lf3=16777216&type=4&style=380&size=2&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=22&y=15
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* If a symbol changes or adds a D, etc. Message me for an updated version.
Twitter: @MACDgyver ---> EQR <---
Penny Roger$
12 years ago
Equity Residential (EQR) is a real estate investment trust (REIT). The Company is focused on the acquisition, development and management of apartment properties in United States markets. It is a real estate company and is an owner of multifamily properties in the United States. As of December 31, 2010, the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 451 properties located in 17 states and the District of Columbia consisting of 129,604 apartment units. As of December 31, 2010, EQR owned an approximate 95.5% ownership interest in, ERP Operating Limited Partnership. In February 2010, the Company, as part of a three-property transaction in New York City, has acquired two high-rise apartment towers.
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whytestocks
3 years ago
jwsophie
8 years ago
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