Equity Residential (NYSE:EQR) Price Target Lowered to $71.00 at Evercore ISI

Equity Residential (NYSE:EQR) had its price objective lowered by Evercore ISI from $72.00 to $71.00 in a research report released on Monday morning, MarketBeat.com reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on EQR. Cantor Fitzgerald assumed coverage on shares of Equity Residential in a research note on Wednesday, October 1st. They set an “overweight” rating and a $70.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Equity Residential from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. BNP Paribas cut shares of Equity Residential from an “outperform” rating to a “hold” rating in a research note on Monday, September 29th. BNP Paribas Exane cut shares of Equity Residential from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equity Residential in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Equity Residential currently has an average rating of “Hold” and an average target price of $74.25.

Equity Residential Stock Up 0.6%

EQR stock opened at $62.06 on Monday. The stock has a market cap of $23.70 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 3.13 and a beta of 0.90. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $64.38 and its 200 day simple moving average is $66.75. Equity Residential has a fifty-two week low of $59.41 and a fifty-two week high of $78.32.

Equity Residential (NYSE:EQR) last released its earnings results on Monday, August 4th. The real estate investment trust reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $768.83 million for the quarter, compared to analysts’ expectations of $770.60 million. Equity Residential had a net margin of 33.22% and a return on equity of 9.05%. Equity Residential’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. 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, sell-side analysts predict that Equity Residential will post 3.98 EPS for the current year.

Equity Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, September 25th were paid a $0.6925 dividend. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $2.77 annualized dividend and a dividend yield of 4.5%. Equity Residential’s payout ratio is currently 104.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EQR. Norges Bank acquired a new position in shares of Equity Residential in the second quarter worth about $2,351,689,000. Nuveen LLC acquired a new position in shares of Equity Residential in the first quarter worth about $165,442,000. Prudential Financial Inc. boosted its holdings in shares of Equity Residential by 725.6% in the second quarter. Prudential Financial Inc. now owns 1,908,429 shares of the real estate investment trust’s stock worth $128,800,000 after buying an additional 1,677,278 shares during the period. Invesco Ltd. boosted its holdings in shares of Equity Residential by 20.9% in the second quarter. Invesco Ltd. now owns 8,019,026 shares of the real estate investment trust’s stock worth $541,204,000 after buying an additional 1,384,580 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Equity Residential by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,711,588 shares of the real estate investment trust’s stock worth $1,482,537,000 after buying an additional 1,101,027 shares during the period. 92.68% of the stock is currently owned by institutional investors and hedge funds.

About Equity Residential

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.