Equity Residential (NYSE:EQR) Raised to “Buy” at Bank of America

Equity Residential (NYSE:EQR) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $76.00 price target on the real estate investment trust’s stock. Bank of America‘s target price would indicate a potential upside of 14.72% from the company’s previous close.

EQR has been the subject of a number of other research reports. Mizuho lifted their target price on Equity Residential from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. Scotiabank raised their price target on Equity Residential from $66.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 4th. Morgan Stanley raised shares of Equity Residential from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $74.00 in a research note on Thursday, March 26th. Argus set a $70.00 target price on shares of Equity Residential in a research note on Thursday, March 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Equity Residential in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Equity Residential has an average rating of “Moderate Buy” and a consensus price target of $70.39.

Equity Residential Stock Performance

Shares of NYSE:EQR opened at $66.25 on Wednesday. The firm has a fifty day simple moving average of $62.45 and a two-hundred day simple moving average of $62.01. Equity Residential has a 52 week low of $57.57 and a 52 week high of $70.31. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $24.82 billion, a P/E ratio of 26.50 and a beta of 0.76.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09). The business had revenue of $779.85 million during the quarter, compared to the consensus estimate of $781.79 million. Equity Residential had a net margin of 30.63% and a return on equity of 8.57%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. Equity Residential has set its FY 2026 guidance at 4.020-4.140 EPS and its Q2 2026 guidance at 0.980-1.020 EPS. On average, analysts expect that Equity Residential will post 4.09 earnings per share for the current fiscal year.

Institutional Trading of Equity Residential

Several institutional investors and hedge funds have recently made changes to their positions in EQR. Collier Financial purchased a new stake in shares of Equity Residential during the third quarter valued at $26,000. Fulcrum Asset Management LLP bought a new stake in Equity Residential during the 3rd quarter valued at about $27,000. Rosenberg Matthew Hamilton lifted its holdings in Equity Residential by 69.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 440 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 180 shares in the last quarter. Zions Bancorporation National Association UT boosted its position in Equity Residential by 375.2% in the 4th quarter. Zions Bancorporation National Association UT now owns 480 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 379 shares during the period. Finally, DV Equities LLC bought a new position in Equity Residential in the 4th quarter worth about $30,000. 92.68% of the stock is currently owned by institutional investors.

Equity Residential Company Profile

Equity Residential (NYSE: EQR) is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company’s core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.