Wedbush Decreases Earnings Estimates for Equity Residential
Equity Residential (NYSE:EQR) witnessed a revision in its earnings estimates for the fiscal year 2025 as disclosed by Wedbush in a report on Wednesday. The equities research analysts at Wedbush have adjusted their forecast for the real estate investment trust’s earnings per share (EPS) to $4.04, a slight drop from the prior estimate of $4.06. Wedbush maintains a “Neutral” rating for Equity Residential with a target price set at $75.00. The current consensus estimate for the company’s full-year earnings stands at $3.88 per share.
The stock has garnered attention from a variety of other analysts in recent times. Notably, Bank of America transitioned its rating for Equity Residential from “buy” to “neutral,” while also increasing the company’s target price from $78.00 to $82.00. Similarly, Wells Fargo & Company shifted its rating from “overweight” to “equal weight” while increasing the price target from $69.00 to $77.00. On the other hand, Royal Bank of Canada decreased its price target from $83.00 to $79.00, but maintained an “outperform” rating on the stock.
JPMorgan Chase & Co. recently raised its price target for Equity Residential from $68.00 to $80.00, describing the stock with a “neutral” rating. UBS Group, too, raised its target price from $75.00 to $82.00 while assigning a “buy” rating. In total, a consensus of twelve research analysts has rated the stock as a “hold,” with seven assigning a “buy” rating. The company currently holds an average rating of “Hold” with an average target price of $76.19.
The shares of Equity Residential opened at $71.38 on Thursday. The company’s stock performance over the past year saw a 12-month low of $53.48 and a 12-month high of $78.83. The firm has a market capitalization of $27.06 billion and a PE ratio of 29.25. Its price-to-earnings-growth ratio stands at 5.87, and the beta is 0.90. Liquidity indicators highlight a current ratio of 0.13 and a quick ratio of 0.21, with a debt-to-equity ratio of 0.76. Notably, the company’s fifty-day moving average price is $74.56, while the 200-day moving average is $70.31.
Equity Residential recently declared a quarterly dividend of $0.675 per share, which was distributed on Friday, October 11th. As of the record date on Tuesday, September 24th, this translates into an annualized dividend of $2.70 per share, offering a dividend yield of 3.78%. The payout ratio for the company presently stands at 110.66%.
Hedge funds and institutional investors have recently made adjustments to their holdings in Equity Residential. Principal Financial Group Inc. drastically increased its stake during the second quarter, now owning 7,153,749 shares valued at $496,040,000. Similarly, Los Angeles Capital Management LLC enhanced its position by 1,459.8% in the third quarter, owning 1,949,473 shares worth $145,158,000. National Bank of Canada FI’s stake rose by 679.0% in the second quarter, amounting to 594,774 shares, while Sumitomo Mitsui Trust Holdings Inc. increased its stake by 39.6%, owning 1,676,445 shares. Sei Investments Co. also displayed a notable increase of 77.5% in their holdings during the first quarter.
Equity Residential, a proud member of the S&P 500, is dedicated to fostering thriving communities through the acquisition, development, and management of residential properties predominantly in vibrant cities with affluent long-term tenants. The company has established a significant presence across major urban areas including Boston, New York, Washington DC, Seattle, San Francisco, and Southern California, while also expanding into markets such as Denver, Atlanta, and Dallas/Ft. Worth.
The dynamic nature of the real estate industry continues to draw interest from investors and analysts alike. Equity Residential’s proactive efforts in expanding its footprint in strategic urban locations make it a noteworthy entity within the market.
