JPMorgan Chase & Co. Cuts Equity Residential (NYSE:EQR) Price Target to $71.00

Equity Residential (NYSE:EQR) had its price target decreased by JPMorgan Chase & Co. from $75.00 to $71.00 in a research report sent to investors on Thursday morning,MarketScreener reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on EQR. Scotiabank reduced their price objective on shares of Equity Residential from $73.00 to $66.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Wells Fargo & Company reduced their price target on shares of Equity Residential from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Stifel Nicolaus set a $79.75 price objective on shares of Equity Residential in a research report on Wednesday, October 29th. Morgan Stanley cut their target price on Equity Residential from $75.00 to $73.50 and set an “equal weight” rating for the company in a research note on Thursday, November 13th. Finally, UBS Group decreased their price target on Equity Residential from $76.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Eight equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.02.

Equity Residential Trading Down 1.0%

Shares of NYSE:EQR opened at $61.00 on Thursday. The company has a market capitalization of $23.21 billion, a P/E ratio of 20.13, a P/E/G ratio of 3.25 and a beta of 0.75. Equity Residential has a 1 year low of $58.38 and a 1 year high of $75.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.45 and a quick ratio of 0.45. The business’s 50 day simple moving average is $61.32 and its 200 day simple moving average is $64.65.

Equity Residential (NYSE:EQR) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.02 earnings per share for the quarter, meeting the consensus estimate of $1.02. The firm had revenue of $782.41 million during 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 firm earned $0.98 EPS. Equity Residential has set its Q4 2025 guidance at 1.020-1.060 EPS and its FY 2025 guidance at 3.980-4.020 EPS. On average, research analysts anticipate that Equity Residential will post 3.98 EPS for the current fiscal year.

Equity Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Thursday, September 25th were paid a $0.6925 dividend. This represents a $2.77 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Thursday, September 25th. Equity Residential’s dividend payout ratio is presently 91.42%.

Institutional Trading of Equity Residential

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Equity Residential by 2.3% during the third quarter. Vanguard Group Inc. now owns 57,597,658 shares of the real estate investment trust’s stock worth $3,728,296,000 after buying an additional 1,281,354 shares during the period. Norges Bank bought a new stake in Equity Residential during the second quarter valued at $2,351,689,000. State Street Corp grew its holdings in Equity Residential by 2.8% during the 3rd quarter. State Street Corp now owns 24,922,935 shares of the real estate investment trust’s stock worth $1,630,103,000 after acquiring an additional 688,854 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Equity Residential by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,711,588 shares of the real estate investment trust’s stock worth $1,482,537,000 after acquiring an additional 1,101,027 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Equity Residential by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 9,884,977 shares of the real estate investment trust’s stock worth $664,662,000 after acquiring an additional 137,533 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

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.