Equity Residential Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Equity Residential (NYSE:EQR) will unveil its latest earnings on Wednesday, October 26, 2011. 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 profit of 62 cents per share, a rise of 12.7% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. For the year, analysts are projecting net income of $2.42 per share, a rise of 6.6% from last year.

Past Earnings Performance: The company met estimates last quarter after beating the forecasts in the prior two. In the second quarter, the company reported profit of 60 cents per share versus a mean estimate of net income of 60 cents per share. In the first quarter, the company beat estimates by 0 cents.

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Wall St. Revenue Expectations: On average, analysts predict $509.4 million in revenue this quarter, a decline of 3.4% from the year ago quarter. Analysts are forecasting total revenue of $2.05 billion for the year, a rise of 3% from last year’s revenue of $1.99 billion.

Analyst Ratings: Analysts seem relatively indifferent about Equity Residential with 14 of 21 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose 5481% to $555.9 million ($1.85 a share) from $10 million (2 cents a share) the year earlier, meeting analyst expectations. Revenue fell 4% to $489 million from $509.3 million.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose more than twofold in the first quarter and more than fourfold in the fourth quarter of the last fiscal year.

Revenue fell in the second quarter after seeing a rise the quarter before. In the first quarter, revenue rose 6.4%.

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 July 27, 2011 to October 20, 2011, the stock price had fallen $7.53 (-12.1%) from $62.13 to $54.60. It saw one of its worst periods between September 12, 2011 and September 22, 2011 when shares fell for nine-straight days, falling 14% (-$8.38) 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% (+$3.85) over that span. Shares are up $3.57 (+7%) year to date.

(Source: Xignite Financials)

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