Wells Fargo & Company Cuts Equity Residential (NYSE:EQR) Price Target to $62.00

Equity Residential (NYSE:EQR) had its price objective reduced by Wells Fargo & Company from $68.00 to $62.00 in a research note released on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. dropped their price objective on Equity Residential from $76.00 to $75.00 in a research note on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Equity Residential in a research report on Wednesday, October 8th. Evercore ISI lowered their target price on Equity Residential from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, BNP Paribas Exane downgraded Equity Residential from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Equity Residential currently has an average rating of “Hold” and a consensus price target of $71.52.

Equity Residential Stock Down 1.5%

Shares of NYSE:EQR opened at $59.59 on Monday. Equity Residential has a 1 year low of $58.38 and a 1 year high of $78.32. The company has a market capitalization of $22.67 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.88. The business has a fifty day moving average price of $62.99 and a two-hundred day moving average price of $65.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.45 and a quick ratio of 0.17.

Equity Residential (NYSE:EQR) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.02 EPS for the quarter, hitting analysts’ consensus estimates of $1.02. The company had revenue of $782.41 million for the quarter, compared to analysts’ expectations of $779.68 million. Equity Residential had a return on equity of 10.30% and a net margin of 37.58%.During the same period in the previous year, the business posted $0.98 EPS. Equity Residential has set its Q4 2025 guidance at 1.020-1.060 EPS. FY 2025 guidance at 3.980-4.020 EPS. Analysts forecast that Equity Residential will post 3.98 earnings per share for the current year.

Equity Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, September 25th were given a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Thursday, September 25th. Equity Residential’s dividend payout ratio (DPR) is 91.42%.

Institutional Trading of Equity Residential

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. grew its position in shares of Equity Residential by 1.6% during the 1st quarter. Brown Advisory Inc. now owns 10,733 shares of the real estate investment trust’s stock valued at $768,000 after purchasing an additional 166 shares in the last quarter. Allworth Financial LP boosted its stake in Equity Residential by 48.2% during the first quarter. Allworth Financial LP now owns 929 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 302 shares during the period. New York State Common Retirement Fund grew its position in Equity Residential by 5.3% during the first quarter. New York State Common Retirement Fund now owns 240,532 shares of the real estate investment trust’s stock worth $17,217,000 after buying an additional 12,000 shares in the last quarter. CWM LLC increased its stake in Equity Residential by 15.0% in the 1st quarter. CWM LLC now owns 3,601 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 470 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Equity Residential in the 1st quarter valued at about $237,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

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.