Equity Residential (EQR)

Equity Residential's stock has experienced various events and fluctuations over the past six months. The company announced its first quarter 2025 operating results on April 23, 2025, and reported its second quarter 2025 results on August 4, 2025, showing increases in same-store revenues, expenses, and Net Operating Income (NOI) compared to the second quarter of 2024, leading to an adjustment in its guidance for same-store revenues, expenses and NOI. During the second quarter of 2025, Equity Residential expanded its portfolio by acquiring eight properties in suburban Atlanta and sold one property in Seattle. Equity Residential declared its third-quarter dividends on July 11, 2025, with a regular common share dividend of $0.6925 per share payable on October 10, 2025, and participated in the BofA Securities 2025 Global Real Estate Conference on September 10, 2025. The stock price has shown some volatility, with a decline of -1.15% on October 2, 2025, and an overall bearish trend in its moving average as of October 1, 2025. Analysts generally hold a "Hold" rating for EQR, with a consensus target price of $74.32 as of October 4, 2025. Institutional investors have shown increased interest.

Demand for Equity Residential's apartment rentals exhibits seasonal patterns, with rents typically peaking in early August and then moderating for the remainder of the year. The company generally experiences healthy demand and strong occupancy rates, supported by factors such as high costs of single-family homeownership, low for-sale inventory, and a growing demographic of affluent long-term renters. Equity Residential's focus on urban and high-density suburban areas with strong job growth and population trends helps ensure a steady stream of tenants.

Equity Residential (EQR) is a real estate investment trust (REIT) that specializes in the acquisition, development, and management of multifamily residential properties, focusing on apartment units and related services for affluent long-term renters in urban and high-density suburban areas. The company operates in the Real Estate sector, specifically in the Residential REITs industry, offering apartment rentals, property management services, and property development and redevelopment, along with ancillary services like parking, storage rentals, and pet fees. EQR is also exploring new revenue streams, including co-living spaces and short-term rentals.

Equity Residential has an established presence in major U.S. cities and their surrounding areas, including Boston, New York, Washington, D.C., Seattle, San Francisco, and Southern California. The company is actively expanding its footprint in high-growth markets such as Denver, Atlanta, Dallas/Fort Worth, and Austin. As of December 31, 2024, EQR owned or had investments in 311 properties, comprising 84,249 apartment units.

Equity Residential's brand reputation in the past year has been impacted by ongoing legal challenges related to its late fee policies. A U.S. District Court in California ruled that Equity Residential's late fee was void under California law and unlawful, and a $2.9 million class action settlement against Equity Residential for unlawful late fees received preliminary approval. These legal outcomes have likely affected the company's reputation regarding tenant fairness and compliance with consumer protection laws.

Equity Residential's ownership is predominantly institutional, with major shareholders including Vanguard Group Inc., BlackRock, Inc., Norges Bank, State Street Corp, and Price T Rowe Associates Inc /md/. Samuel Zell is the largest individual shareholder, owning 1.46% of the company's shares.