Equity Residential (NYSE:EQR) Price Target Lowered to $74.00 at Mizuho

Equity Residential (NYSE:EQR) had its price objective lowered by equities research analysts at Mizuho from $78.00 to $74.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price points to a potential upside of 9.74% from the company’s previous close.

A number of other equities research analysts also recently issued reports on EQR. Barclays assumed coverage on Equity Residential in a research report on Tuesday, December 17th. They set an “overweight” rating and a $83.00 price objective on the stock. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and increased their price target for the company from $78.00 to $82.00 in a report on Tuesday, September 24th. Royal Bank of Canada dropped their price objective on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised shares of Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Finally, Evercore ISI lifted their price target on shares of Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $78.69.

Equity Residential Stock Down 1.4 %

Shares of NYSE EQR opened at $67.43 on Monday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The firm’s 50-day moving average price is $72.89 and its 200-day moving average price is $72.59. The stock has a market capitalization of $25.58 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 5.90 and a beta of 0.93.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EQR. Canada Pension Plan Investment Board increased its holdings in Equity Residential by 1.2% during the second quarter. Canada Pension Plan Investment Board now owns 5,001,360 shares of the real estate investment trust’s stock valued at $346,794,000 after buying an additional 60,000 shares during the period. Benjamin Edwards Inc. bought a new stake in Equity Residential during the 3rd quarter valued at $923,000. Quest Partners LLC increased its holdings in shares of Equity Residential by 244,571.4% in the 2nd quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust’s stock valued at $1,188,000 after acquiring an additional 17,120 shares during the period. Public Sector Pension Investment Board raised its position in shares of Equity Residential by 18.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 47,997 shares of the real estate investment trust’s stock worth $3,328,000 after acquiring an additional 7,549 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Equity Residential by 12.3% in the 3rd quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock worth $9,625,000 after acquiring an additional 14,109 shares in the last quarter. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Equity Residential Company Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.