Zacks Research Has Bearish Estimate for EQR FY2024 Earnings

Equity Residential (NYSE:EQR) – Stock analysts at Zacks Research reduced their FY2024 earnings estimates for Equity Residential in a research report issued on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings of $3.87 per share for the year, down from their prior forecast of $3.88. The consensus estimate for Equity Residential’s current full-year earnings is $3.88 per share. Zacks Research also issued estimates for Equity Residential’s Q4 2024 earnings at $0.99 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.03 EPS, FY2025 earnings at $3.99 EPS, Q2 2026 earnings at $1.05 EPS, Q3 2026 earnings at $1.07 EPS and FY2026 earnings at $4.20 EPS.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $83.00 in a research note on Tuesday, September 10th. Evercore ISI lifted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their target price for the stock from $78.00 to $82.00 in a research note on Tuesday, September 24th. Truist Financial lifted their price target on Equity Residential from $73.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada lowered their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.25.

Equity Residential Stock Performance

Shares of EQR stock opened at $75.18 on Friday. The stock has a market cap of $28.53 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 6.06 and a beta of 0.90. Equity Residential has a 52-week low of $56.05 and a 52-week high of $78.83. The business has a 50-day simple moving average of $74.16 and a 200-day simple moving average of $70.97. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, September 24th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 110.66%.

Institutional Investors Weigh In On Equity Residential

A number of large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Equity Residential by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,267,675 shares of the real estate investment trust’s stock valued at $1,279,095,000 after buying an additional 381,236 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Equity Residential in the second quarter valued at approximately $3,893,000. Boston Partners increased its stake in Equity Residential by 4.3% in the first quarter. Boston Partners now owns 2,715,151 shares of the real estate investment trust’s stock valued at $171,368,000 after purchasing an additional 112,270 shares during the last quarter. Cetera Investment Advisers purchased a new position in Equity Residential in the first quarter valued at approximately $2,841,000. Finally, Canada Pension Plan Investment Board raised its holdings in Equity Residential by 1.2% during the second quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock worth $346,794,000 after purchasing an additional 60,000 shares in the last quarter. 92.68% of the stock is owned by hedge funds and other institutional investors.

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.