Reading the tape
NYSE: EQR
Equity Residential
Real Estate · REIT - Residential
Market Cap
$24.56B
52w High
$71.80
52w Low
$57.57
P/E
25.82
Volume
1.72M
Outstanding Shares
374.67M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
1Y Price: -5.94%Revenue (TTM): 3.65%FCF (TTM): -0.33%P/FCF: 25th pct
What changed
The stock fell 5.94% over the last year. Revenue grew 3.65% over the trailing twelve months. Operating margin moved from 61.09% to 28.5%. Free cash flow declined 0.33% over the trailing twelve months.
What the market seems to be pricing
The stock has moved lower against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 28.5%. A decisive move in revenue — currently up 3.65% — would be the clearest signal to resolve the ambiguity.
Company profile
Equity Residential is committed to creating communities where people thrive.
CEOMark J. Parrell
SectorReal Estate
IndustryREIT - Residential
Employees2,500
IPO dateAug 12, 1993
Valuation
Forward P/E—
EV/EBITDA13.95
Enterprise value$32.63B
Price / Book2.22
Stock splits
Oct 12, 2001↑ Forward
Every 1 shares became 2
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth2.5%
Gross margin46.32%▼26.80%vs FY2024
Operating margin28.5%▼40.65%vs FY2024
ROE10.14%▲8.16%vs FY2024
Analyst consensus
RatingHold
Target price$70.61▲7.74%
16
Buy
28
Hold
2
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 3, 2026
Q3 FY26 · EPS est $0.41 · Revenue est $788.73M
View
Dividends
$2.78/shareQuarterlyAdequateEQR pays a dividend with a 4.24% dividend yield, growing at 2.69% annually, covered 1.2× by free cash flow.
Dividend Yield
4.24%
Annual Div / Share
$2.78
5yr CAGR
+2.69%
Doubles every ~26.1yr
FCF Coverage
1.2×
Adequate
Dividend Growth Rate
3yr CAGR
+3.26%
5yr CAGR
+2.69%
10yr CAGR
+2.22%
Dividend Safety
5/10Adequate
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2025$2.75+35.9%
2024$2.02-23.6%
2023$2.65+6.0%
2022$2.50+3.7%
2021$2.41+0.0%
2020$2.41+6.2%
2019$2.27+5.1%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$42/yr
$4/mo
In 5 yrs
$48/yr+14%
$4/mo
In 10 yrs
$55/yr+30%
$5/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$42/yr $4/mo | $48/yr+14% $4/mo | $55/yr+30% $5/mo |
Yield-on-cost grows from 4.24% → 5.53% over 10yr