Truist Financial Lowers Equity Residential (NYSE:EQR) Price Target to $75.00

Key Points

• Truist Financial has lowered its price target for Equity Residential (EQR) from $78.00 to $75.00, although it still maintains a "buy" rating for the stock.
• Multiple research firms have adjusted their price targets for EQR, with a consensus target price currently at $77.16 and a "Moderate Buy" rating among analysts.
• Equity Residential reported $0.99 earnings per share for the last quarter, matching analyst expectations, and its revenue showed a 4.7% year-over-year growth.

Equity Residential (NYSE:EQR - Get Free Report) had its price target lowered by analysts at Truist Financial from $78.00 to $75.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price objective indicates a potential upside of 14.96% from the company's current price.

A number of other research firms have also weighed in on EQR. Evercore ISI dropped their price objective on shares of Equity Residential from $72.00 to $71.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Barclays decreased their price target on Equity Residential from $83.00 to $81.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. UBS Group dropped their price objective on Equity Residential from $84.00 to $76.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Mizuho cut their price objective on shares of Equity Residential from $76.00 to $71.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Wedbush reiterated a "neutral" rating and issued a $75.00 target price on shares of Equity Residential in a report on Wednesday, May 28th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.16.

Equity Residential Trading Up 0.2%

Shares of Equity Residential stock opened at $65.24 on Friday. The stock has a market capitalization of $24.92 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 3.31 and a beta of 0.92. Equity Residential has a 52 week low of $59.41 and a 52 week high of $78.83. The stock has a 50 day moving average price of $65.73 and a two-hundred day moving average price of $68.31. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.17 and a current ratio of 0.17.

Equity Residential (NYSE:EQR - Get Free Report) last issued its 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. Equity Residential had a return on equity of 9.05% and a net margin of 33.22%.The company had revenue of $768.83 million for the quarter, compared to analyst estimates of $770.60 million. During the same period in the prior year, the firm earned $0.97 earnings per share. Equity Residential's revenue for the quarter 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. As a group, equities analysts anticipate that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EQR. Thrivent Financial for Lutherans grew its holdings in Equity Residential by 69.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 81,196 shares of the real estate investment trust's stock valued at $5,480,000 after buying an additional 33,286 shares in the last quarter. State of Wyoming boosted its position in shares of Equity Residential by 119.0% in the second quarter. State of Wyoming now owns 5,686 shares of the real estate investment trust's stock valued at $384,000 after acquiring an additional 3,090 shares during the period. Carronade Capital Management LP grew its stake in Equity Residential by 5.9% during the second quarter. Carronade Capital Management LP now owns 152,549 shares of the real estate investment trust's stock valued at $10,296,000 after acquiring an additional 8,548 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in Equity Residential during the 2nd quarter worth approximately $61,000. Finally, FORA Capital LLC increased its holdings in Equity Residential by 162.9% during the 2nd quarter. FORA Capital LLC now owns 18,999 shares of the real estate investment trust's stock worth $1,282,000 after acquiring an additional 11,773 shares during the period. 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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