Evercore ISI Increases Equity Residential (NYSE:EQR) Price Target to $72.00

Key Points

• Evercore ISI has raised its price target for Equity Residential (NYSE:EQR) from $71.00 to $72.00, indicating a potential upside of 9% based on the stock's current price and maintaining an "outperform" rating.
• The company reported quarterly earnings of $0.99 per share, meeting analyst expectations, with a revenue of $768.83 million during the quarter, showing a year-over-year increase of 4.7%.
• Equity Residential has an average rating of "Hold" from analysts, with institutional investors holding approximately 92.68% of the stock.

Equity Residential (NYSE:EQR - Get Free Report) had its target price boosted by analysts at Evercore ISI from $71.00 to $72.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. Evercore ISI's price target would suggest a potential upside of 9.00% from the stock's current price.

A number of other equities research analysts have also recently commented on EQR. Wedbush reiterated a "neutral" rating and set a $75.00 target price on shares of Equity Residential in a report on Wednesday, May 28th. Barclays decreased their price objective on Equity Residential from $83.00 to $81.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Stifel Nicolaus set a $80.50 price objective on Equity Residential and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded Equity Residential from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Finally, Wells Fargo & Company decreased their price objective on Equity Residential from $75.00 to $68.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $76.04.

Equity Residential Price Performance

NYSE EQR traded down $0.38 during mid-day trading on Monday, hitting $66.06. The stock had a trading volume of 543,059 shares, compared to its average volume of 1,918,916. Equity Residential has a 52-week low of $59.41 and a 52-week high of $78.83. The company has a market cap of $25.23 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 3.37 and a beta of 0.93. The company has a 50 day simple moving average of $65.45 and a 200 day simple moving average of $67.81. 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 (NYSE:EQR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.The firm had revenue of $768.83 million during the quarter, compared to the consensus estimate of $770.60 million. During the same period last year, the business posted $0.97 EPS. Equity Residential's quarterly revenue was up 4.7% on a year-over-year basis. 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 forecast that Equity Residential will post 3.98 EPS for the current fiscal year.

Institutional Trading of Equity Residential

Several hedge funds and other institutional investors have recently bought and sold shares of EQR. CVA Family Office LLC increased its holdings in 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 buying an additional 336 shares during the last quarter. Versant Capital Management Inc increased its holdings in 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 buying an additional 157 shares during the last quarter. GKV Capital Management Co. Inc. bought a new stake in Equity Residential in the first quarter valued at about $37,000. FNY Investment Advisers LLC increased 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 valued at $44,000 after buying an additional 600 shares during the last quarter. Finally, Keystone Global Partners LLC bought a new stake in Equity Residential in the first quarter valued at about $47,000. 92.68% of the stock is 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.

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