Equity Residential (NYSE:EQR) Coverage Initiated at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has initiated coverage on Equity Residential (NYSE:EQR) with a "neutral" rating and a price target of $70.00, suggesting an upside potential of 8.88% from its previous close.
• JPMorgan Chase and Barclays have also adjusted their price targets for Equity Residential, with Barclays issuing an "overweight" rating and lowering its target to $80.00.
• Equity Residential reported earnings of $0.99 per share for the last quarter, meeting analysts' expectations, and had a revenue of $768.83 million, which was slightly below estimates.

Analysts at Cantor Fitzgerald started coverage on shares of Equity Residential (NYSE:EQR - Get Free Report) in a research report issued on Wednesday, Marketbeat.com reports. The firm set an "overweight" rating on the real estate investment trust's stock.

A number of other research firms also recently weighed in on EQR. Wall Street Zen downgraded shares of Equity Residential from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Stifel Nicolaus set a $80.50 price target on shares of Equity Residential and gave the company a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley reduced their price target on shares of Equity Residential from $76.50 to $75.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Truist Financial reduced their price target on shares of Equity Residential from $78.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Finally, The Goldman Sachs Group reduced their price target on shares of Equity Residential from $72.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 17th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $74.65.

Equity Residential Price Performance

EQR stock opened at $64.15 on Wednesday. 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 has a 12 month low of $59.41 and a 12 month high of $78.32. The firm has a market cap of $24.50 billion, a P/E ratio of 24.21, a P/E/G ratio of 3.32 and a beta of 0.90. The company's 50-day moving average price is $64.85 and its two-hundred day moving average price is $67.25.

Equity Residential (NYSE:EQR - Get Free Report) 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. 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 for the quarter, compared to analyst estimates of $770.60 million. During the same period last year, the firm earned $0.97 EPS. The business's quarterly revenue 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. On average, analysts anticipate that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CVA Family Office LLC lifted its position in shares of Equity Residential by 425.3% in the 2nd quarter. CVA Family Office LLC now owns 415 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 336 shares during the period. Versant Capital Management Inc lifted its position 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 worth $33,000 after purchasing an additional 157 shares during the period. GKV Capital Management Co. Inc. acquired a new position in shares of Equity Residential in the 1st quarter worth approximately $37,000. Keystone Global Partners LLC acquired a new position in shares of Equity Residential in the 1st quarter worth approximately $47,000. Finally, FNY Investment Advisers LLC lifted its position in shares of Equity Residential by 1,000.0% in the 2nd 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 during the period. Institutional investors and hedge funds own 92.68% of the company's stock.

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.