Recent Research Analysts’ Ratings Updates for Equity Residential (EQR)

Several analysts have recently updated their ratings and price targets for Equity Residential (NYSE: EQR):

• 4/29/2024 – Equity Residential had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $68.00 price target on the stock.
• 4/29/2024 – Equity Residential had its price target raised by analysts at Piper Sandler from $62.00 to $70.00. They now have a “neutral” rating on the stock.
• 4/25/2024 – Equity Residential had its price target raised by analysts at Evercore ISI from $67.00 to $70.00. They now have an “outperform” rating on the stock.
• 4/22/2024 – Equity Residential was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $70.00 price target on the stock, up previously from $68.00.
• 4/9/2024 – Equity Residential had its price target lowered by analysts at Truist Financial Co. from $71.00 to $67.00. They now have a “buy” rating on the stock.
• 3/26/2024 – Equity Residential had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $62.00 price target on the stock.
• 3/18/2024 – Equity Residential was upgraded by analysts at Raymond James from an “underperform” rating to a “market perform” rating.

Equity Residential Stock Performance

NYSE:EQR opened at $64.04 on Thursday. The stock has a market cap of $24.31 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82. The company has a current ratio of 0.23, a quick ratio of 0.30 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $62.24 and its 200-day moving average is $59.93. Equity Residential has a 1-year low of $52.57 and a 1-year high of $69.45.

Equity Residential (NYSE:EQR) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $730.80 million for the quarter, compared to analysts’ expectations of $728.09 million. Equity Residential had a return on equity of 8.18% and a net margin of 31.70%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. Equities research analysts anticipate that Equity Residential will post 3.88 earnings per share for the current year.

Equity Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 25th were issued a dividend of $0.675 per share. This is a boost from Equity Residential’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Friday, March 22nd. Equity Residential’s payout ratio is 112.03%.

Insider Transactions at Equity Residential

In other news, CFO Robert Garechana sold 876 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $50,632.80. Following the transaction, the chief financial officer now owns 20,933 shares in the company, valued at approximately $1,209,927.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Ian Kaufman sold 716 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.80, for a total value of $41,384.80. Following the transaction, the chief accounting officer now directly owns 23,949 shares of the company’s stock, valued at approximately $1,384,252.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Garechana sold 876 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $57.80, for a total value of $50,632.80. Following the sale, the chief financial officer now owns 20,933 shares in the company, valued at approximately $1,209,927.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,548 shares of company stock worth $666,351. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Equity Residential

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tobam boosted its position in shares of Equity Residential by 10.7% during the 1st quarter. Tobam now owns 2,539 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 245 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Equity Residential by 36.6% during the 1st quarter. BNP Paribas Financial Markets now owns 569,829 shares of the real estate investment trust’s stock valued at $35,962,000 after purchasing an additional 152,736 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Equity Residential by 8.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,753 shares of the real estate investment trust’s stock valued at $6,272,000 after purchasing an additional 7,790 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Equity Residential by 32.3% during the 1st quarter. Baillie Gifford & Co. now owns 17,469 shares of the real estate investment trust’s stock valued at $1,102,000 after purchasing an additional 4,269 shares in the last quarter. Finally, Consolidated Portfolio Review Corp boosted its holdings in Equity Residential by 33.1% in the first quarter. Consolidated Portfolio Review Corp now owns 5,056 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 1,257 shares in the last quarter. Institutional investors own 92.68% of the company’s stock.

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.