
Equity Residential (EQR) Stock Forecast & Price Target
Equity Residential (EQR) Analyst Ratings
Bulls say
Equity Residential's strong outlook is supported by a projected 3.0% year-over-year same-store revenue growth for 2024, with expenses expected to grow at a lower rate of 2.6%, leading to a solid 3.2% same-store net operating income (SSNOI) growth that aligns with management's guidance. Additionally, the company exhibits robust fundamentals, particularly in the San Francisco and Seattle markets, characterized by low supply, decreasing concessions, high occupancy levels, and favorable pricing trends. The firm's adeptness at capital recycling and an excellent balance sheet further enhance its cash flow generation and risk profile, placing Equity Residential in a favorable position within the competitive REIT landscape.
Bears say
Equity Residential's portfolio has been adversely affected by slow recovery in key West Coast markets, particularly in the Bay Area and Seattle, which poses ongoing headwinds for the company's performance. The company's occupancy rates have declined to 96.1%, and blended rental rates dropped to 2.0%, falling short of earlier growth expectations and indicating potential weakening demand for apartments in these critical regions. Additionally, downward revisions in core funds from operations estimates, alongside rising interest and capital rates that could diminish the portfolio's value, further contribute to a negative outlook for Equity Residential's stock.
This aggregate rating is based on analysts' research of Equity Residential and is not a guaranteed prediction by Public.com or investment advice.
Equity Residential (EQR) Analyst Forecast & Price Prediction
Start investing in Equity Residential (EQR)
Order type
Buy in
Order amount
Est. shares
0 shares