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EQR
ACCE-researched

Equity Residential Common Shares of Beneficial Interest (EQR) fair value

Real Estate · REIT - Residential · NYSE · United States
$63.66-3.50%
Market cap $24.6BNext earnings 2026-11-04Updated Oct 23, 2026
Our verdict
Trades 20% above our fair value
Price
$63.66
Model fair valueConfidence: good
$53.17
Model range
$29.82 to $66.85
Fair value $53.17
Price $63.66
3 models fit Equity Residential Common Shares of Beneficial Interest and they disagree: 0 of 3 land within 15% of the average.
Two or more of our models back this value.
Premium(i)Silver62
Valued as a REIT (property company): Price to FFO, Dividend discount, and EV/EBITDA comparison.
ACCE opinionEquity Residential Common Shares of Beneficial Interest (EQR)
Fair value (3 models)
$53.17
ACCE price target
$67.00
Rating
Overvalued
Horizon
12 months
Fair value published on 21 Oct 2026, 11:06 CEST; previously $52.17 since 19 Oct 2026, 18:04 CEST.
ACCE price target published on 22 Oct 2026, 01:52 CEST; previously $65.00 since 24 Sept 2026, 00:00 CEST.
Rating published on 19 Oct 2026, 18:04 CEST.
Price used: $63.66 at the close on 25 Aug 2026, 22:00 CEST.
Models: EV/EBITDA comparison, Dividend discount, and Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
19.7% above
-16.5% to fair value
ACCE score
50
out of 100
Analysts
40% buy
25 covering
P/E
28.7x
forward 50.3x
1-year return
-1.8%
Dividend yield
4.23%

Equity Residential Common Shares of Beneficial Interest in four questions

Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Equity Residential owns and operates apartment communities concentrated in coastal gateway markets such as Boston, New York, Southern California, Seattle and San Francisco, leasing multifamily units under its own brand. Its scale in these supply-constrained metros gives it pricing power and a lease book that can be repriced as in-place rents move toward market. The near-term catalyst is the normalization of new apartment supply in these markets, which should support renewal and new-lease rent growth as construction pipelines thin. At a $24.6B market cap, the stock trades at 28.7x trailing earnings and 50.3x forward earnings, and the forward multiple sitting well above the trailing one signals the market is not pricing in a rapid earnings recovery. Revenue growth of 2.1% and an 8.0% ROE leave little room for error, so a deeper look should test whether same-store revenue acceleration is real before the earnings line catches up.

AI-assisted·How I use AIWritten Oct 13, 2026
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
  • high
    Earnings collapse despite stable revenue
    Revenue grew only 2.1% YoY while earnings fell 39.9%, and the P/E of 28.7 sits against a forward P/E of 50.3, which signals expected earnings weakness.
  • moderate
    Stock trades above model fair value
    The price trades 19.7% above the model fair value of $53.17, so the stock already prices in more than the consensus models support.

AI research notes

AI-assisted·How I use AIWritten Oct 24, 2026 · figures from 2026-06-30 · prices to Aug 25, 2026
Why it could do well
  • Free cash flow of $1.3B over the last twelve months gives the company real cash to fund its dividend and debt payments.
  • The stock yields 4.2% in dividends, and the share count fell 0.5% last year, so holders are being paid and their stake is slightly growing.
  • Analysts' mean price target of $72.99 sits 14.7% above the share price, and 40% of covering analysts rate it Buy or Strong Buy.
Why it could disappoint
  • The stock trades 19.7% above the model fair value of $53.17, and all three valuation models in the consensus point to a lower value.
  • At 50.3x forward earnings the shares look expensive, and return on invested capital of 4.6% is low for the price paid.
  • Revenue growth slowed to 2.1% over the last year, below the 3.8% average of the past five years.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

PRO

Ask ACCE

Valuation

INVESTOR
Where EQR's valuation models land
Price
$63.66
Model fair value
$53.17
Model range
$29.82 to $66.85
Fair value $53.17
Price $63.66
The price sits inside the model range.
Model
Fair value
Upside
Dividend discount
EV/EBITDA comparison
Price to FFO
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See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.

Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

Mixed40% buy · 25 covering analysts
● Strong buy 5● Buy 5● Hold 15● Sell 0● Strong sell 0
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
Do politicians beat the market? Our backtest →
Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Press releases mentioning this company

Recent performance

1 week
+0.0%
1 month
-6.0%
3 months
-4.5%
6 months
-0.7%
YTD
+1.0%
1 year
-1.8%

SEC filings

Recommendation history, last 12 months

DateTypeNewPreviousPrice
22 Oct 2026, 01:52 CESTACCE price target$67.00$65.00$63.66
21 Oct 2026, 11:06 CESTFair value$53.11$52.17$63.66
19 Oct 2026, 18:04 CESTFair value$52.17$53.17$63.66
19 Oct 2026, 18:04 CESTRatingOvervaluedfirst publication$63.66
11 Oct 2026, 00:00 CESTFair value$53.17$44.33$63.66
24 Sept 2026, 00:00 CESTACCE price target$65.00first publication$63.66
16 Sept 2026, 00:00 CESTFair value$44.33$45.18$63.66
12 Sept 2026, 00:00 CESTFair value$45.18$42.99$63.66
5 Sept 2026, 00:00 CESTFair value$42.99$43.50$63.66
26 Aug 2026, 00:00 CESTFair value$43.50$45.83$63.66

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth19Value-Quality81Momentum-Total50
Valuation
Trailing P/E
28.7x
Forward P/E
50.3x
PEG
no data
P/B
4.69x
EV / Revenue
10.4x
Book value/sh
$28.00
Enterprise value
$32.4B
Profitability
ROE
8.0%
FCF yield
5.24%
ROIC
4.6%
Health and risk
Debt / equity
0.80
Dividend yield
4.23%
Beta
0.75

Price

+0.4% · 1Y

Ask anything about EQR

Answered from Equity Residential Common Shares of Beneficial Interest fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 50% of peers
low 21.8x28.7xhigh 88.1x
ROEbetter than 83% of peers
low 0%8%high 8%
Div yieldbetter than 50% of peers
low 3.7%4.2%high 12.6%

Peers

Prices Aug 25, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
EQR Equity Residential Common Shares of Beneficial Interest$63.66$5320% above28.7x8.0%8150
AVB AvalonBay Communities Inc. Common Stock$184.06$15320% above25.2x8.5%7648
SOJC Southern Company (The) Series 2017B 5.25% Junior Subordinated Notes due December 1 2077$18.32--21.8x0.0%1918
ESS Essex Property Trust Inc. Common Stock$278.35$21728% above43.3x7.7%7652
INVH Invitation Homes Inc. Common Stock$27.54$1855% above24.6x7.0%7263
SUI Sun Communities Inc. Common Stock$120.24$9723% above88.1x1.7%5938
MAA Mid-America Apartment Communities Inc. Common Stock$119.78$10514% above35.4x7.0%6948

Sector report card

Where EQR ranks against its sector peers on each metric.

Computing percentiles…
  • PR Newswire•Sep 14, 2026
    Blue Moon, The Elmet Group, and EQ Resources Announce a US$150-$175 Million Investment into the Springer Tungsten Complex, Nevada, to Strengthen the U.S. Tungsten Supply Chain
  • TMX Newsfile•Aug 29, 2026
    OCAL Financial Launches Video-First Brand Campaign With DIBO Marketing and Engages Signal Capital for Investor Relations
  • Business Wire•Jul 8, 2026
    AvalonBay Communities, Inc. Announces Second Quarter 2026 Earnings Release Date
3 more press releases · full archive on Investor+.INVESTOR
40 filings
September 2026
Sep 17
8-KCurrent reportPeriod 2026-09-16
View on SEC →
Sep 16
8-KCurrent reportPeriod 2026-09-15
View on SEC →
Sep 11
Form 4Insider transactionPeriod 2026-09-09
View on SEC →
37 more filings + AI summaries on Investor+.INVESTOR