Wedbush Decreases Earnings Estimates for Equity Residential

Equity Residential (NYSE:EQR) – Equities research analysts at Wedbush lowered their FY2025 earnings estimates for shares of Equity Residential in a report released on Wednesday, November 6th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $4.04 per share for the year, down from their prior estimate of $4.06. Wedbush currently has a “Neutral” rating and a $75.00 target price on the stock. The consensus estimate for Equity Residential’s current full-year earnings is $3.88 per share.

A number of other analysts have also recently commented on the stock. Bank of America cut shares of Equity Residential from a “buy” rating to a “neutral” rating and boosted their target price for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Wells Fargo & Company cut shares of Equity Residential from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $69.00 to $77.00 in a research note on Monday, August 26th. Royal Bank of Canada dropped their price target on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, UBS Group upped their price target on shares of Equity Residential from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.19.

Equity Residential Stock Performance

Shares of EQR stock opened at $71.38 on Thursday. Equity Residential has a 12 month low of $53.48 and a 12 month high of $78.83. The stock has a market cap of $27.06 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 5.87 and a beta of 0.90. The company has a current ratio of 0.13, a quick ratio of 0.21 and a debt-to-equity ratio of 0.76. The company’s fifty day moving average price is $74.56 and its 200-day moving average price is $70.31.

Equity Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s payout ratio is currently 110.66%.

Institutional Investors Weigh In On Equity Residential

Several hedge funds and other institutional investors have recently made changes to their positions in EQR. Principal Financial Group Inc. increased its position in shares of Equity Residential by 482.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after purchasing an additional 5,925,177 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Equity Residential by 1,459.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,949,473 shares of the real estate investment trust’s stock valued at $145,158,000 after purchasing an additional 1,824,494 shares during the last quarter. National Bank of Canada FI increased its holdings in Equity Residential by 679.0% in the 2nd quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock worth $40,528,000 after acquiring an additional 518,424 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Equity Residential by 39.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock worth $116,245,000 after acquiring an additional 475,124 shares during the period. Finally, Sei Investments Co. lifted its holdings in Equity Residential by 77.5% during the first quarter. Sei Investments Co. now owns 1,061,862 shares of the real estate investment trust’s stock valued at $67,014,000 after purchasing an additional 463,664 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

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.