Truist Financial Has Lowered Expectations for Equity Residential (NYSE:EQR) Stock Price

Equity Residential (NYSE:EQR) had its target price decreased by investment analysts at Truist Financial from $78.00 to $75.00 in a research report issued on Friday, MarketBeat reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target points to a potential upside of 13.32% from the stock’s current price.

A number of other equities analysts have also commented on the company. Wall Street Zen lowered Equity Residential from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Morgan Stanley dropped their price target on Equity Residential from $76.50 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. UBS Group dropped their price target on Equity Residential from $84.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. Wells Fargo & Company dropped their price target on Equity Residential from $75.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Mizuho dropped their price target on Equity Residential from $76.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.16.

Equity Residential Stock Performance

NYSE EQR opened at $66.18 on Friday. The business has a 50-day moving average price of $65.68 and a 200-day moving average price of $68.26. Equity Residential has a twelve month low of $59.41 and a twelve month high of $78.83. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.75.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, meeting analysts’ consensus estimates of $0.99. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.The company had revenue of $768.83 million during the quarter, compared to analyst estimates of $770.60 million. During the same period in the prior year, the company earned $0.97 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. As a group, equities research analysts predict that Equity Residential will post 3.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Equity Residential

Several hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc increased its holdings in shares of Equity Residential by 51.6% in the 1st quarter. Versant Capital Management Inc now owns 461 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 157 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Equity Residential by 27.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 740 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 160 shares during the period. Greenleaf Trust increased its holdings in shares of Equity Residential by 4.4% in the 1st quarter. Greenleaf Trust now owns 3,858 shares of the real estate investment trust’s stock valued at $276,000 after acquiring an additional 162 shares during the period. Brown Advisory Inc. increased its holdings in shares of Equity Residential by 1.6% in the 1st quarter. Brown Advisory Inc. now owns 10,733 shares of the real estate investment trust’s stock valued at $768,000 after acquiring an additional 166 shares during the period. Finally, Avior Wealth Management LLC increased its holdings in shares of Equity Residential by 2.9% in the 1st quarter. Avior Wealth Management LLC now owns 6,283 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 177 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Company Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.