Equity Residential Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Equity Residential (NYSE:EQR) will unveil its latest earnings on Wednesday, February 1, 2012. Equity Residential is a real estate investment trust company that acquires and manages apartment properties in top growth markets in the United States.

Equity Residential Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 65 cents per share, a rise of 4.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 66 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 65 cents during the last month. Analysts are projecting profit to rise by 6.6% versus last year to $2.42.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the third quarter, it reported profit of 62 cents per share versus a mean estimate of 61 cents. Two quarters ago, it reported net income of 60 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 1.2% in revenue from the year-earlier quarter to $521.4 million.

Analyst Ratings: Analysts seem relatively indifferent about Equity Residential with 14 of 19 analysts surveyed maintaining a hold rating.

A Look Back: In the third quarter, profit rose more than threefold to $107.8 million (35 cents a share) from $28.8 million (9 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 3.7% to $504.7 million from $523.9 million.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose 5481% in the second quarter and more than twofold in the first quarter.

Revenue has fallen in the past two quarters. In the second quarter, the figure fell 4%.

Competitors to Watch: AvalonBay Communities, Inc. (NYSE:AVB), UDR, Inc. (NYSE:UDR), Apartment Investment and Management Co. (NYSE:AIV), Camden Property Trust (NYSE:CPT), BRE Properties, Inc. (NYSE:BRE), Mid-America Apartment (NYSE:MAA), Home Properties, Inc. (NYSE:HME), Post Properties, Inc. (NYSE:PPS), Colonial Properties Trust (NYSE:CLP), and Essex Property Trust, Inc. (NYSE:ESS).

Stock Price Performance: During November 28, 2011 to January 26, 2012, the stock price had risen $6.71 (12.8%) from $52.54 to $59.25. It saw one of its worst periods between September 12, 2011 and September 22, 2011 when shares fell for nine-straight days, falling 14% (-$8.29) over that span. The stock price saw one of its best stretches over the last year between April 18, 2011 and May 2, 2011 when shares rose for 10-straight days, rising 7% (+$3.82) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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