Equity Residential (EQR) Stock Overview
Equity Residential is committed to creating communities where people thrive. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 0/6 |
| Past Performance | 1/6 |
| Financial Health | 1/6 |
| Dividends | 4/6 |
Rewards
Risk Analysis
EQR Community Fair Values
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Analyst Price Targets
Equity Residential Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$66.20 |
| 52 Week High | US$70.31 |
| 52 Week Low | US$57.57 |
| Beta | 0.77 |
| 1 Month Change | 7.29% |
| 3 Month Change | 5.75% |
| 1 Year Change | -2.09% |
| 3 Year Change | 11.00% |
| 5 Year Change | -14.53% |
| Change since IPO | 362.53% |
Recent News & Updates
Narrative Update • May 16
EQR: Coastal Portfolio Buybacks And Guidance Will Shape Balanced Dividend And EPS Outlook
Equity Residential's updated analyst price target edges higher to about $70.58, with analysts pointing to modest tweaks to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions following a series of recent target revisions across the Street. Analyst Commentary Recent Street research around Equity Residential centers on a cluster of price target revisions and a handful of rating changes, giving you a mix of optimistic and cautious signals to weigh.Narrative Update • Apr 26
EQR: Coastal Portfolio And Buybacks Will Support Future Dividend And EPS Execution
Analysts have made a modest adjustment to their outlook on Equity Residential, trimming the blended price target by a small amount to around $70. This change reflects refreshed models that incorporate updated earnings guidance, sector wide estimate changes, and revised assumptions around growth, profitability, and future P/E levels.Recent updates
Narrative Update • May 16
EQR: Coastal Portfolio Buybacks And Guidance Will Shape Balanced Dividend And EPS Outlook
Equity Residential's updated analyst price target edges higher to about $70.58, with analysts pointing to modest tweaks to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions following a series of recent target revisions across the Street. Analyst Commentary Recent Street research around Equity Residential centers on a cluster of price target revisions and a handful of rating changes, giving you a mix of optimistic and cautious signals to weigh.Narrative Update • Apr 26
EQR: Coastal Portfolio And Buybacks Will Support Future Dividend And EPS Execution
Analysts have made a modest adjustment to their outlook on Equity Residential, trimming the blended price target by a small amount to around $70. This change reflects refreshed models that incorporate updated earnings guidance, sector wide estimate changes, and revised assumptions around growth, profitability, and future P/E levels.Narrative Update • Apr 10
EQR: Coastal Apartment Portfolio And Buybacks Will Support 2026 Upside
Equity Residential's updated fair value estimate edges slightly lower to $69.93 from $70.07 per share, reflecting analysts' modestly higher discount rates and refreshed price targets, including recent adjustments around the $67 to $75 range following updated earnings models and sector level REIT revisions. Analyst Commentary Recent Street research around Equity Residential centers on fine tuning price targets and reassessing the risk and reward trade off across the multifamily REIT sector.Narrative Update • Mar 27
EQR: Coastal Apartments And Buybacks Will Support 2026 Upside Potential
Equity Residential's analyst fair value was adjusted to about $70.07, reflecting mixed Street price target revisions that incorporate slightly softer revenue growth assumptions, a modestly higher profit margin outlook, and a marginally lower future P/E as analysts refresh models for updated earnings and 2026 guidance. Analyst Commentary Recent Street research on Equity Residential reflects a mix of optimism and caution, with several firms adjusting price targets in a relatively tight range and revisiting ratings as they refresh models for updated earnings and 2026 outlooks.Narrative Update • Mar 10
EQR: Coastal Apartments And Buybacks Will Drive 2026 Upside Potential
The analyst price target for Equity Residential has shifted slightly to about $70.05, with recent research showing a mix of modest target increases and cuts as analysts factor in sector wide estimate changes and softer coastal fundamentals. Analyst Commentary Recent research on Equity Residential shows a split view, with some firms nudging price targets higher and others trimming them or lowering ratings as they reassess sector level assumptions and coastal apartment fundamentals.Narrative Update • Feb 24
EQR: Coastal Apartments And Buybacks Will Shape 2026 Risk Reward Balance
Analysts have made a modest upward adjustment to the Equity Residential price target to $70.00. This reflects a slightly higher fair value estimate supported by updated assumptions around revenue growth, profit margins, and future P/E expectations.Narrative Update • Feb 10
EQR: Coastal Apartments And Buybacks Will Shape Balanced 2026 Risk Reward Profile
Analysts made only a slight trim to their fair value estimate for Equity Residential to about $69.76 from $69.88, reflecting a mix of higher and lower Street price targets as firms reassessed 2026 REIT prospects, expected apartment sector conditions, and valuation assumptions. Analyst Commentary Recent research reports on Equity Residential show a mix of optimism and caution, with price target changes and rating shifts clustering around firms' 2026 REIT outlooks and expectations for apartment fundamentals in key markets.Narrative Update • Jan 26
EQR: Coastal Apartment Setup And Buybacks Will Drive 2026 Upside Potential
Narrative Update The analyst price target for Equity Residential has been adjusted slightly lower to around $70. Analysts cite a mix of cautious views on softer coastal market fundamentals and more constructive 2026 REIT outlooks, which include raised targets from some firms.Seeking Alpha • Jan 20
Equity Residential: Markets Underestimate Its Geographic Advantages
Summary Equity Residential remains a "Buy," despite recent underperformance, due to its focus on legacy, supply-constrained markets with resilient rental dynamics. EQR’s geographic mix—primarily the Northeast, D.C., and West Coast—insulates it from national rental softness, supporting above-average rent growth near 2% for 2026. EQR maintains strong fundamentals: 96.3% occupancy, 4.4x debt/EBITDA, and a secure 4.5% dividend yield, with opportunistic buybacks enhancing shareholder value. I reiterate a $70 price target, expecting 2025 FFO near $4.00 and 2%-3% FFO growth in 2026 as supply pressures ease. Read the full article on Seeking AlphaNarrative Update • Jan 11
EQR: Coastal Apartment Turnaround And Buybacks Will Support Future Upside
Our updated analyst price target for Equity Residential edges up from about US$70.28 to US$70.33, as analysts weigh mixed research views that highlight softening coastal fundamentals alongside expectations for a potential turnaround in REITs and relatively stable assumptions around growth, margins, and future P/E. Analyst Commentary Recent research on Equity Residential points to a split view, with some analysts focusing on potential upside in a broader REIT recovery, while others highlight pressure in core coastal markets and trim expectations accordingly.Narrative Update • Dec 25
EQR: Future Buybacks And Steady Occupancy Will Support Upside Potential
Analysts have trimmed their price target on Equity Residential slightly, from about $70.38 to approximately $70.28, citing modestly lower growth expectations, improved profit margins, and a marginally cheaper forward valuation multiple. Analyst Commentary Recent Street research reflects a more balanced tone on Equity Residential, with some analysts maintaining an optimistic stance on fundamentals and others signaling a pause after the stock's recent performance.Narrative Update • Dec 11
EQR: Upcoming Buybacks And Occupancy Will Support Future Earnings Optimism
Equity Residential's analyst price target has edged down slightly to the low 80 dollar range, as analysts trim fair value estimates and future earnings assumptions following updated sector forecasts and more cautious views on profit margins and growth. Analyst Commentary Recent Street commentary reflects a more nuanced stance on Equity Residential, with modest target cuts and a shift in rating suggesting a balance of supportive fundamentals and execution risks.Narrative Update • Nov 27
EQR: Upcoming Buybacks and Occupancy Will Drive Optimism Into Earnings Season
Equity Residential's analyst price target has been reduced by $0.98, as analysts have updated their expectations for softer profit margins and moderated revenue growth following recent sector reviews. Analyst Commentary Analyst opinions on Equity Residential have shifted following recent target and rating changes, highlighting a mix of optimism about the company’s long-term trajectory along with caution regarding near-term execution risks.Narrative Update • Nov 13
EQR: Upcoming Earnings Season Will Bring Confidence Amid Sector Uncertainty
Equity Residential’s analyst price target has been reduced by $1.82 to $71.53. Analysts cite slightly lower fair value estimates and an updated sector outlook following recent research coverage.Narrative Update • Oct 30
Rental Supply Stabilization Will Support Share Price Recovery Amid Sector Pressure
Analysts have slightly reduced their price target for Equity Residential, lowering it by $0.44 to $73.35 per share. This change reflects cautious sentiment on near-term profit margins and modest adjustments to long-term growth expectations following recent sector research.Narrative Update • Oct 15
Coastal Rental Supply And AI Will Drive Potential Amid Risks
Equity Residential's analyst price target has decreased slightly, falling from approximately $74.58 to $73.80. Analysts cite softer revenue growth expectations and recent sector underperformance as factors contributing to this adjustment.Narrative Update • Sep 05
Coastal Rental Supply And AI Will Drive Potential Amid Risks
Despite ongoing apartment REIT underperformance and negative market sentiment, analysts now see a more attractive setup for Equity Residential due to easing new supply, though the consensus price target remains unchanged at $74.58. Analyst Commentary Apartment REITs, including Equity Residential, have underperformed most of the year and rank among the weakest REIT subsectors year-to-date.Seeking Alpha • Apr 20
Equity Residential: Rock-Solid REIT In A Shaky Market
Summary Equity Residential is a high-quality REIT with a strong balance sheet, focusing on supply-constrained, high-demand coastal and Sunbelt markets. EQR's fundamentals include a high-income tenant base, low turnover, and a 4.1% dividend yield, offering resilience in volatile markets. The stock's current valuation is attractive, with a forward P/FFO below its historical average, presenting a solid long-term buy opportunity. Read the full article on Seeking AlphaSeeking Alpha • Feb 06
Equity Residential: Still Pricey After Decent Earnings
Summary Equity Residential focuses on premium apartment buildings in dynamic, high-income areas and growing, low-cost regions, benefiting from housing shortages and strong white-collar job markets. EQR reported solid Q4 2024 results, with an FFO of $1.00 per share and revenue of $766.78 million, surpassing analyst expectations. 2025 guidance indicates modest revenue growth of 2.25%-3.25% and higher expense growth, potentially shrinking margins; plans $1.5 billion in new property acquisitions. Despite strong short-term prospects, long-term risks include job market uncertainties, environmental factors, and a high valuation premium compared to peers. Read the full article on Seeking AlphaSeeking Alpha • Jan 01
Equity Residential: Prime Locations And Dividend Power Are The Recipe For Success
Summary Equity Residential is a solid pick for stability, income, and long-term growth, focusing on affluent renters in high-barrier-to-entry coastal markets. EQR has demonstrated resilient performance, with stable revenue and FFO growth, supported by favorable supply demand dynamics and a robust A-rated balance sheet. The 3.8% dividend yield is well-covered and attractive, with potential for long-term "sleep well at night" returns. Risks include potential supply growth surprises, inflation pressures, and higher interest rates, but EQR's strategic positioning and cost efficiencies offer a solid outlook. Read the full article on Seeking AlphaSeeking Alpha • Sep 25
Equity Residential: Price To AFFO And Dividend Yield Make Them A Hold
Summary EQR's financials show decelerating rental income and NOI growth, yet the growth has been decent enough and the company raised guidance for same-store metrics, indicating positive forward momentum. EQR boasts high occupancy rates, low leverage, and affluent customers, but its current valuation is no longer undervalued for income-driven investors. Combining different factors, I rate the stock of Equity Residential as a hold at its current price. Read the full article on Seeking AlphaSeeking Alpha • Aug 24
Equity Residential: Good Quality But Pricey
Summary Equity Residential focuses on niche markets in highly dynamic and desirable cities with high home price to income ratios. The company benefits from renters staying due to financial incentives to rent over buying, but faces potential challenges with renter fatigue. Despite high occupancy rates and historical dividend growth, the company's premium valuation may deter some investors, especially in uncertain economic times. Read the full article on Seeking AlphaSeeking Alpha • Jun 10
Equity Residential: It's Time To Be A 'Grave Dancer'
Summary Equity Residential is a solid buy for investors due to its A-rating, over 4.1% yield, and low debt. The company is undervalued compared to historicals and benefits from the overall undersupply of housing and strong demand for rental housing. EQR has potential upside with a growth estimate of 3-5% and expects higher-end guidance range results for 2024E. Read the full article on Seeking AlphaSeeking Alpha • May 02
Equity Residential: Management Hints At Attractive Entry Price For The Stock
Summary The spread between apartment REIT cap rates and the US 10-year treasury is narrower than usual, signalling downward pressure for the stock price of Equity Residential. The current macroeconomic environment has directly increased the cost to finance acquisitions for EQR. Unsurprisingly, EQR did not make any acquisitions in Q1. Employing an enterprise perspective, EQR is trading at a cap rate that is below its cost of capital. Investors should wait until conditions rebalance and the spread is positive. Read the full article on Seeking AlphaSeeking Alpha • Mar 10
Equity Residential: Buy Into Fed's Rate Cuts
Summary Equity Residential is a real estate investment trust focused on owning and operating multifamily apartment communities across the US. EQR has a stable financial position with reasonable revenue growth and profit margins, making it attractive to income-seeking investors. EQR stock has been muted due to elevated balance sheet leverage, and this article discusses why this creates an investment opportunity. Read the full article on Seeking AlphaSeeking Alpha • Feb 06
Equity Residential: Further Improvement Necessary In West Coast Markets
Summary Apartment REIT, Equity Residential, wrapped up their 2023 fiscal year with stable occupancy and solid strength in key operating markets. The New York market remains a highlight due to its favorable supply backdrop and positive demand drivers. Despite better-than-feared results and guidance, shares have declined about 5% since results were reported. I remain neutral on shares of EQR due to improvement that is necessary and yet to be materially realized in the REIT’s West Coast operating market. Read the full article on Seeking AlphaSeeking Alpha • Jan 18
Equity Residential: Discounted Price Spells Opportunity
Summary Apartment REITs have underperformed in the past year, including Equity Residential, which has seen minimal share price growth. Equity Residential was founded by Sam Zell, and is one of the largest multifamily REITs, focused on prime markets in Tier 1 cities. Despite short-term headwinds, EQR has a strong balance sheet, consistent dividend payments, and potential for long-term growth, making it an attractive investment at present. Read the full article on Seeking AlphaShareholder Returns
| EQR | US Residential REITs | US Market | |
|---|---|---|---|
| 7D | 3.6% | 4.0% | 1.0% |
| 1Y | -2.1% | -5.5% | 28.7% |
Return vs Industry: EQR exceeded the US Residential REITs industry which returned -7% over the past year.
Return vs Market: EQR underperformed the US Market which returned 27.1% over the past year.
Price Volatility
| EQR volatility | |
|---|---|
| EQR Average Weekly Movement | 2.8% |
| Residential REITs Industry Average Movement | 2.8% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.4% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: EQR has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: EQR's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1993 | 2,400 | Mark Parrell | www.equityapartments.com |
Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, owns and manages 312 rental properties consisting of 85,190 apartment units in dynamic metro areas across the U.S. with a primary concentration in major coastal markets, diversified by a targeted presence in the high-growth metro areas of Atlanta, Austin, Dallas/Ft. Worth and Denver.
Equity Residential Fundamentals Summary
| EQR fundamental statistics | |
|---|---|
| Market cap | US$25.25b |
| Earnings (TTM) | US$952.15m |
| Revenue (TTM) | US$3.11b |
26.1x
P/E Ratio8.0x
P/S RatioIs EQR overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| EQR income statement (TTM) | |
|---|---|
| Revenue | US$3.11b |
| Cost of Revenue | US$1.16b |
| Gross Profit | US$1.95b |
| Other Expenses | US$1.00b |
| Earnings | US$952.15m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.54 |
| Gross Margin | 62.78% |
| Net Profit Margin | 30.59% |
| Debt/Equity Ratio | 75.7% |
How did EQR perform over the long term?
See historical performance and comparisonDividends
4.2%
Current Dividend Yield70%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/22 12:55 |
| End of Day Share Price | 2026/05/22 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Equity Residential is covered by 41 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jacob Kilstein | Argus Research Company |
| Amanda Sweitzer | Baird |
| Richard Hightower | Barclays |