Equity Residential (EQR) earnings on April 28, 2026
More Equity Residential earnings
Prior outlook: Pessimistic Outcome: Partial
After the company reported earnings, the stock jumped as much as 2% early in the day but gave up those gains, closing up less than 1%.
EQR price around the earnings
65.45
Change: +0.5%
2026-04-29, 19:59 UTC
- Price: green if it ends above the starting price; red if it ends below
- Start of the measured window
- Market open
- No trading (market closed)
- Starting price
Prior thesis
Prior outlook: Pessimistic Outcome: Partial
- Thesis published
Constructive analysts offset by legal costs and weak history.
Analysts are positive and have recently upgraded the stock, but a significant legal settlement charge will impact recent earnings. The company also has a history of missing earnings expectations, creating a mixed outlook.
Context analyzed before publication
- Summary
- Optimistic analysts offset by legal costs and weak history.
- Reasoning
- Analysts are optimistic and have recently upgraded the stock, but a significant legal settlement charge will impact recent earnings. The company also has a history of missing earnings expectations, creating a mixed outlook.
- Playbook
- The scenario presents risks that may outweigh potential gains, pending clarity on the impact of the legal settlement and a more consistent earnings track record.
- Trend
- Outlook improved slightly over the past two sessions.
Analysts
Drivers
-
Analysts
Positive
Key financial analysts have recently upgraded their ratings on the stock, indicating optimistic expectations for its future performance. Price targets from these analysts cite a notable increase in the stock's value.
Evidence
- Analyst consensus
- Buy
- Consensus average (1-5)
- 2.4
- Analysts covering the stock
- 21
- Average price target
- 69.79
- Lowest price target
- 62
- Highest price target
- 80
- Upside to price target
- 12.1%
- Quarterly earnings growth
- -8.8%
- Revenue growth
- 2%
- Forward EPS
- 1.49
- Trailing EPS
- 2.94
- Analyst moves in the last 60 days
- 6
- Strong buy: 5
- Buy: 5
- Hold: 15
- Sell: 0
- Strong sell: 0
- Strong buy
- 5
- Buy
- 5
- Hold
- 15
- Sell
- 0
- Strong sell
- 0
- April 6, 2026 · Evercore ISI Group: Maintains rating (Outperform → Outperform)
- March 26, 2026 · Morgan Stanley: Upgrades rating (Equal-Weight → Overweight)
- March 16, 2026 · Morgan Stanley: Maintains rating (Equal-Weight → Equal-Weight)
- March 9, 2026 · Evercore ISI Group: Maintains rating (Outperform → Outperform)
- March 6, 2026 · Barclays: Maintains rating (Overweight → Overweight)
- March 4, 2026 · Scotiabank: Maintains rating (Sector Perform → Sector Perform)
News and sentiment
Drivers
-
News & sentiment
Negative
A recent legal settlement will negatively affect the company's financial results for the first quarter. This concrete financial challenge stands in contrast to very positive sentiment from retail investors, suggesting a potential disconnect.
Evidence
Sentiment
- Sentiment
- Constructive
- Mention volume
- Low
- Normalized volume
- 33%
News
Sources (3)
- On April 13, Equity Residential Entered Into Settlement Agreement With The Named Plaintiffs In The Class Action Litigation; Under Terms Of Settlement Agreement, Co Will Pay Aggregate Of $56.0 Mln Into Settlement Fund To Settle All Claims Asserted; Enters Settlement In Realpage Antitrust Class Action; Expects To Increase Its Loss Contingency Reserve, Which Will Be Reflected In Co's Q1 2026 Financial Statements — Benzinga
- Evercore ISI Group Maintains Outperform on Equity Residential, Lowers Price Target to $67 — Benzinga
- Morgan Stanley Upgrades Equity Residential to Overweight, Raises Price Target to $74 — Benzinga
Technicals
Evidence
- Average true range (ATR)
- 1.9%
- Distance to 52-week high
- -14.0%
- 14-day change (14d)
- +4.6%
- 30-day change
- +1.3%
- 30-day relative strength
- -2.8%
- Benchmark change
- +4.1%
- Nearest support
- 57.59
- Nearest resistance
- 63.47
- Volume accumulation ratio
- 0.89
Trends
Drivers
-
Macro & trends
Negative
The company has historically struggled to meet earnings expectations, with a low percentage of positive surprises. This pattern suggests that despite optimistic analyst views, there is a consistent risk of underperformance against forecasts.
Evidence
- Average earnings surprise
- -1.9%
- February 5, 2026: actual EPS 0.28 vs estimate 0.38 (surprise -25.5%)
- October 28, 2025: actual EPS 0.37 vs estimate 0.42 (surprise -11.4%)
- August 4, 2025: actual EPS 0.5 vs estimate 0.37 (surprise +34.3%)
- April 29, 2025: actual EPS 0.26 vs estimate 0.27 (surprise -4.9%)
Expected move
There is no implied-move data available for this event.
Reactions over its last 19 earnings
- Median move
- 2.4%
- 75th percentile move
- 3.6%
- 90th percentile move
- 4.2%
- Up / down moves
- 10 / 9
- Average up move
- +2.0%
- Average down move
- -2.8%
Monitoring and close
What Equity Residential reported
There is no monitoring data available for this event.
Pre-market second reading after the results
There is no second reading available for this event.
How the stock reacted
- Outcome
- Partial
- Consolidated
- +0.5%
- Max favorable move (MFE)
- 1.8%
- Max adverse move (MAE)
- 2.1%