Equity Residential (NYSE:EQR) Price Target Lowered to $68.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target for Equity Residential from $75.00 to $68.00, maintaining an "equal weight" rating, which suggests a potential upside of 5.31% from the current stock price.
• The company reported earnings of $0.99 per share for the last quarter, matching analysts' expectations, with revenue of $768.83 million.
• Equity Residential has a consensus rating of "Moderate Buy" from analysts, with an average price target of $77.34.

Equity Residential (NYSE:EQR - Get Free Report) had its price target decreased by research analysts at Wells Fargo & Company from $75.00 to $68.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target would indicate a potential upside of 5.31% from the stock's current price.

Several other equities research analysts have also recently weighed in on EQR. Barclays cut their target price on Equity Residential from $83.00 to $81.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. UBS Group dropped their target price on shares of Equity Residential from $84.00 to $76.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Morgan Stanley reduced their price objective on shares of 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. Royal Bank Of Canada boosted their price target on shares of Equity Residential from $75.00 to $76.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Wedbush reissued a "neutral" rating and issued a $75.00 price target on shares of Equity Residential in a research note on Wednesday, May 28th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $77.34.

Equity Residential Stock Performance

Shares of Equity Residential stock opened at $64.57 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.17 and a quick ratio of 0.17. The stock's 50-day moving average is $65.88 and its 200-day moving average is $68.37. The firm has a market cap of $24.66 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 3.29 and a beta of 0.92. Equity Residential has a one year low of $59.41 and a one year high of $78.83.

Equity Residential (NYSE:EQR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share for the quarter, hitting analysts' consensus estimates of $0.99. The firm had revenue of $768.83 million for the quarter, compared to the consensus estimate of $770.60 million. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.The business's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equity Residential has set its FY 2025 guidance at 3.970-4.030 EPS. Q3 2025 guidance at 0.990-1.030 EPS. Equities analysts predict that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equity Residential

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Equity Residential by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 56,316,304 shares of the real estate investment trust's stock worth $3,800,787,000 after acquiring an additional 315,370 shares during the last quarter. Norges Bank purchased a new position in Equity Residential during the 2nd quarter valued at about $2,351,689,000. State Street Corp grew its position in shares of Equity Residential by 1.8% in the 2nd quarter. State Street Corp now owns 24,234,081 shares of the real estate investment trust's stock worth $1,651,909,000 after buying an additional 417,119 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Equity Residential by 5.6% in the 1st 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 last quarter. Finally, Geode Capital Management LLC grew its position in Equity Residential by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 9,884,977 shares of the real estate investment trust's stock worth $664,662,000 after purchasing an additional 137,533 shares during the last quarter. Institutional investors 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.

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