The Goldman Sachs Group Cuts Equity Residential (NYSE:EQR) Price Target to $69.00

Key Points

• Goldman Sachs cut its price target on Equity Residential to $69.00 from $71.00 while maintaining a "neutral" rating, a target that implies about a 12.2% upside from the prior close.
• Analyst consensus is mixed with an average rating of "Hold" and an average price target of $69.38, reflecting a range of Buy/Hold recommendations across firms.
• Equity Residential reported Q4 EPS of $1.03 (missing estimates by $0.01), provided Q1 2026 guidance of 0.940–0.980 and FY 2026 guidance of 4.020–4.140, and insiders sold roughly 10,058 shares (~$655k) in recent transactions.

Equity Residential (NYSE:EQR - Get Free Report) had its price target reduced by investment analysts at The Goldman Sachs Group from $71.00 to $69.00 in a research report issued on Thursday,MarketScreener reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. The Goldman Sachs Group's price objective suggests a potential upside of 12.20% from the company's previous close.

Other analysts also recently issued research reports about the stock. Piper Sandler set a $78.00 price target on shares of Equity Residential in a research note on Tuesday, January 27th. Mizuho raised their price objective on Equity Residential from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Friday, March 6th. Barclays lowered their target price on Equity Residential from $78.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, March 6th. BNP Paribas Exane increased their price target on Equity Residential from $66.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 3rd. Finally, Scotiabank lifted their price objective on Equity Residential from $66.00 to $67.00 and gave the company a "sector perform" rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $69.38.

Equity Residential Stock Performance

Shares of Equity Residential stock opened at $61.50 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.73. The stock's fifty day moving average is $61.53 and its two-hundred day moving average is $61.52. Equity Residential has a 52 week low of $57.57 and a 52 week high of $72.40. The company has a market capitalization of $23.22 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 4.63 and a beta of 0.73.

Equity Residential (NYSE:EQR - Get Free Report) last issued its earnings results on Thursday, February 5th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.01). Equity Residential had a net margin of 36.20% and a return on equity of 9.98%. The company had revenue of $781.91 million for the quarter, compared to analysts' expectations of $786.35 million. During the same period in the prior year, the firm posted $1.00 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. Equity Residential has set its Q1 2026 guidance at 0.940-0.980 EPS and its FY 2026 guidance at 4.020-4.140 EPS. As a group, analysts expect that Equity Residential will post 3.98 earnings per share for the current year.

Insider Transactions at Equity Residential

In other Equity Residential news, COO Michael L. Manelis sold 5,765 shares of Equity Residential stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $65.13, for a total value of $375,474.45. Following the transaction, the chief operating officer owned 46,131 shares in the company, valued at $3,004,512.03. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Garechana sold 3,637 shares of the business's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $65.13, for a total transaction of $236,877.81. Following the completion of the transaction, the executive vice president owned 18,740 shares of the company's stock, valued at $1,220,536.20. This represents a 16.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 10,058 shares of company stock valued at $655,078. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Equity Residential by 2.3% in the third quarter. Vanguard Group Inc. now owns 57,597,658 shares of the real estate investment trust's stock valued at $3,728,296,000 after buying an additional 1,281,354 shares during the last quarter. Aberdeen Group plc increased its holdings in shares of Equity Residential by 34.6% during the third quarter. Aberdeen Group plc now owns 568,408 shares of the real estate investment trust's stock valued at $36,446,000 after acquiring an additional 146,148 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Equity Residential by 566.7% in the 3rd quarter. Baillie Gifford & Co. now owns 115,181 shares of the real estate investment trust's stock valued at $7,456,000 after purchasing an additional 97,906 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Equity Residential in the 3rd quarter valued at approximately $9,094,000. Finally, National Pension Service boosted its stake in Equity Residential by 4.6% in the 3rd quarter. National Pension Service now owns 605,494 shares of the real estate investment trust's stock worth $39,194,000 after purchasing an additional 26,590 shares in the last quarter. Institutional investors own 92.68% of the company's stock.

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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