Equity Residential (NYSE:EQR) Given New $70.00 Price Target at The Goldman Sachs Group

Equity Residential (NYSE:EQR) had its target price reduced by The Goldman Sachs Group from $72.00 to $70.00 in a research report released on Wednesday morning,MarketScreener reports. The Goldman Sachs Group currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on EQR. Wedbush reissued a “neutral” rating and issued a $75.00 target price on shares of Equity Residential in a report on Wednesday, May 28th. Morgan Stanley cut their target price on shares of Equity Residential from $76.50 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Wall Street Zen raised shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Friday, September 5th. UBS Group dropped their price objective on shares of Equity Residential from $84.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. Finally, Mizuho dropped their price objective on shares of Equity Residential from $76.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Equity Residential presently has a consensus rating of “Hold” and a consensus target price of $75.25.

Equity Residential Trading Down 0.2%

EQR stock opened at $64.62 on Wednesday. The firm has a fifty day moving average price of $65.34 and a 200 day moving average price of $67.71. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.37. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $24.68 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 3.29 and a beta of 0.93.

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

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Thursday, September 25th will be issued a $0.6925 dividend. This represents a $2.77 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Thursday, September 25th. Equity Residential’s payout ratio is presently 104.53%.

Institutional Trading of Equity Residential

Institutional investors and hedge funds have recently made changes to their positions in the company. CVA Family Office LLC raised its holdings in shares of Equity Residential by 425.3% in the second quarter. CVA Family Office LLC now owns 415 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 336 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Equity Residential by 51.6% in the first 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 in the last quarter. GKV Capital Management Co. Inc. bought a new position in Equity Residential in the first quarter worth about $37,000. Keystone Global Partners LLC bought a new position in Equity Residential in the first quarter worth about $47,000. Finally, FNY Investment Advisers LLC raised its holdings in Equity Residential by 1,000.0% in the second quarter. FNY Investment Advisers LLC now owns 660 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 600 shares in the last quarter. 92.68% of the stock is currently owned by 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.