Wedbush Research Analysts Boost Earnings Estimates for EQR

Equity Residential (NYSE:EQR - Free Report) - Research analysts at Wedbush boosted their FY2024 earnings per share estimates for shares of Equity Residential in a report issued on Wednesday, November 6th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings per share of $3.89 for the year, up from their previous forecast of $3.88. 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. Wedbush also issued estimates for Equity Residential's Q4 2024 earnings at $1.00 EPS.

Several other analysts have also issued reports on EQR. UBS Group boosted their price target on shares of Equity Residential from $75.00 to $82.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. BNP Paribas assumed coverage on Equity Residential in a research report on Wednesday, September 11th. They set an "outperform" rating and a $83.00 price target on the stock. Wells Fargo & Company downgraded Equity Residential from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $69.00 to $77.00 in a research report on Monday, August 26th. Bank of America lowered shares of Equity Residential from a "buy" rating to a "neutral" rating and upped their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. 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. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $76.19.

Equity Residential Stock Performance

EQR traded up $1.74 during trading hours on Friday, hitting $73.53. The stock had a trading volume of 1,363,640 shares, compared to its average volume of 1,860,816. The stock has a market cap of $27.90 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 5.87 and a beta of 0.90. Equity Residential has a 1 year low of $53.48 and a 1 year high of $78.83. The company has a quick ratio of 0.21, a current ratio of 0.13 and a debt-to-equity ratio of 0.76. The company's fifty day simple moving average is $74.48 and its 200 day simple moving average is $70.40.

Institutional Trading of Equity Residential

Institutional investors have recently modified their holdings of the company. Maryland Capital Advisors Inc. bought a new position in Equity Residential during the 3rd quarter valued at approximately $25,000. Assetmark Inc. increased its position in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 430 shares during the period. UMB Bank n.a. lifted its position in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 195 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Equity Residential by 41.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 155 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its position in shares of Equity Residential by 146.6% during the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 327 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Dividend Announcement

The company also recently disclosed 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 dividend yield of 3.67%. The ex-dividend date was Tuesday, September 24th. Equity Residential's payout ratio is 110.66%.

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.