Equity Residential (NYSE:EQR) Price Target Raised to $70.00

Key Points

• Scotiabank raised Equity Residential’s price target from $67 to $70 and kept a sector perform rating, implying modest upside from the current share price.
• Other analysts have also adjusted views on EQR recently, with several lifting price targets and one upgrading the stock to outperform; the broader consensus remains Hold with an average target of $70.80.
• Equity Residential shares traded at $68.39, near their 52-week high of $71.50, while the company most recently missed earnings estimates but posted slightly higher revenue year over year.

Equity Residential (NYSE:EQR - Get Free Report) had its price objective upped by stock analysts at Scotiabank from $67.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target would indicate a potential upside of 2.35% from the stock's current price.

A number of other research analysts have also issued reports on EQR. Weiss Ratings raised Equity Residential from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 1st. Mizuho upped their price objective on shares of Equity Residential from $66.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 10th. Evercore raised their target price on shares of Equity Residential from $70.00 to $71.00 in a research note on Monday, June 8th. BNP Paribas Exane lifted their target price on shares of Equity Residential from $68.00 to $70.00 and gave the company a "neutral" rating in a report on Monday, May 18th. Finally, Wolfe Research raised shares of Equity Residential from a "hold" rating to an "outperform" rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $70.80.

Equity Residential Stock Performance

Shares of EQR stock traded up $0.08 during trading hours on Thursday, hitting $68.39. The stock had a trading volume of 311,271 shares, compared to its average volume of 2,792,382. The stock's 50 day moving average is $66.57 and its 200 day moving average is $63.44. The firm has a market capitalization of $25.63 billion, a PE ratio of 27.35, a PEG ratio of 5.57 and a beta of 0.74. Equity Residential has a twelve month low of $57.57 and a twelve month high of $71.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.18 and a quick ratio of 0.18.

Equity Residential (NYSE:EQR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.09). Equity Residential had a net margin of 30.63% and a return on equity of 8.57%. The business had revenue of $779.85 million during the quarter, compared to analyst estimates of $781.79 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Equity Residential has set its FY 2026 guidance at 4.020-4.140 EPS and its Q2 2026 guidance at 0.980-1.020 EPS. As a group, research analysts forecast that Equity Residential will post 4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equity Residential

Several institutional investors and hedge funds have recently made changes to their positions in EQR. Empowered Funds LLC grew its position in shares of Equity Residential by 3.1% in the first quarter. Empowered Funds LLC now owns 7,489 shares of the real estate investment trust's stock valued at $536,000 after purchasing an additional 226 shares during the period. Cresset Asset Management LLC grew its holdings in Equity Residential by 13.9% in the 2nd quarter. Cresset Asset Management LLC now owns 4,836 shares of the real estate investment trust's stock valued at $330,000 after buying an additional 590 shares during the period. Jump Financial LLC grew its holdings in Equity Residential by 96.1% in the 2nd quarter. Jump Financial LLC now owns 11,300 shares of the real estate investment trust's stock valued at $763,000 after buying an additional 5,537 shares during the period. Federated Hermes Inc. acquired a new position in shares of Equity Residential during the 2nd quarter valued at about $100,000. Finally, Cerity Partners LLC lifted its holdings in shares of Equity Residential by 170.7% during the 2nd quarter. Cerity Partners LLC now owns 20,646 shares of the real estate investment trust's stock worth $1,393,000 after acquiring an additional 13,018 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 NYSE: EQR is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company's core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.

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