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EQR (Equity Residential) Earnings Yield (Joel Greenblatt) % : 4.29% (As of Jun. 2024)


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What is Equity Residential Earnings Yield (Joel Greenblatt) %?

Equity Residential's Enterprise Value for the quarter that ended in Jun. 2024 was $34,262 Mil. Equity Residential's EBIT for the trailing twelve months (TTM) ended in Jun. 2024 was $1,495 Mil. Equity Residential's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2024 was 4.29%.

The historical rank and industry rank for Equity Residential's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

EQR' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.41   Med: 3.51   Max: 15.58
Current: 4.14

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Equity Residential was 15.58%. The lowest was 2.41%. And the median was 3.51%.

EQR's Earnings Yield (Joel Greenblatt) % is ranked better than
64.05% of 968 companies
in the REITs industry
Industry Median: 2.815 vs EQR: 4.14

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Equity Residential's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2024 was 6.76%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Equity Residential Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Equity Residential's Earnings Yield (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Equity Residential Earnings Yield (Joel Greenblatt) % Chart

Equity Residential Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.31 4.18 3.87 3.58 3.65

Equity Residential Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.04 3.65 4.48 4.29 -

Competitive Comparison of Equity Residential's Earnings Yield (Joel Greenblatt) %

For the REIT - Residential subindustry, Equity Residential's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Equity Residential's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Equity Residential's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Equity Residential's Earnings Yield (Joel Greenblatt) % falls into.



Equity Residential Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Equity Residentials Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=1144.57/31378.61256
=3.65 %

Equity Residential's EBIT for the trailing twelve months (TTM) ended in Jun. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,495 Mil.



Equity Residential  (NYSE:EQR) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Equity Residential Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Equity Residential's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Equity Residential Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Equity Residential (NYSE:EQR) » Definitions » Earnings Yield (Joel Greenblatt) %
Traded in Other Exchanges
Address
Two North Riverside Plaza, Chicago, IL, USA, 60606
Equity Residential owns a portfolio of 299 apartment communities with around 80,000 units and is developing three additional properties with 977 units. The company focuses on owning large, high-quality properties in the urban and suburban submarkets of Southern California, San Francisco, Washington, D.C., New York, Seattle, and Boston.
Executives
Catherine Carraway officer: Executive Vice President TWO NORTH RIVERSIDE PLAZA, SUITE 500, CHICAGO IL 60606
Alexander Brackenridge officer: Executive Vice President TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Scott Fenster officer: EVP & General Counsel TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Ian Kaufman officer: Chief Accounting Officer C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Michael L Manelis officer: Executive Vice President TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Robert Garechana officer: EVP & Chief Financial Officer TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Linda Bynoe director 980 N. MICHIGAN AVE, SUITE 1400, CHICAGO IL 60611
Mary Kay Haben director C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
David J Neithercut director C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Mark S Shapiro director C/O RED ZONE LLC, 21300 REDSKIN PARK DRIVE, ASHBURN VA 20147
Christa L Sorenson officer: Executive Vice President TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Angela M Aman director RETAIL PROPERTIES OF AMERICA, INC., 2021 SPRING ROAD, SUITE 200, OAK BROOK IL 60523
Duckworth Connie K director EIGHT WINGS ENTERPRISES, 77 STONE AGTE LANE, LAKE FOREST IL 60045
Bradley A Keywell director
John E Neal director 2020 CALAMOS COURT, NAPERVILLE X1 60563

Equity Residential Headlines