Evercore ISI Boosts Equity Residential (EQR) to Outperform on Thriving Coastal Markets

Equity Residential (NYSE:EQR) is one of the best residential REITs to buy. On July 7, Evercore ISI upgraded EQR to Outperform from In Line, while bumping the price target to $75 from $74. The rating upgrade aligns with Evercore’s reaffirmed FFO estimates of $0.99 for Q2 and $3.99 for the full year 2025, reflecting confidence in Equity Residential’s performance and placing estimates at the upper limit of the expected range.

The investment firm expects Equity Residential to post 3% same-store revenue growth in Q2, 30 basis points above the market average. For full-year 2025, it projects 3% same-store revenue growth for the full year, slightly ahead of consensus by 10 basis points. This is driven by solid rent gains in core coastal markets, while Sunbelt properties remain weaker. Evercore added that the company’s own guidance for revenue growth ranges from 2.25% to 3.25%.

Equity Residential (NYSE:EQR) deals in the acquisition, development, and management of residential properties in high-demand urban markets aimed at affluent, long-term renters.

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