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

Equity Residential (NYSE:EQR) had its price target decreased by research analysts at Mizuho from $78.00 to $74.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective points to a potential upside of 4.37% from the company’s previous close.

EQR has been the topic of a number of other research reports. Evercore ISI raised their price target on Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Scotiabank reduced their price target on shares of Equity Residential from $81.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and lifted their target price for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Finally, StockNews.com lowered shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $78.69.

Equity Residential Price Performance

Shares of NYSE:EQR opened at $70.90 on Monday. The company’s fifty day moving average price is $73.16 and its 200-day moving average price is $72.59. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $26.90 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 5.90 and a beta of 0.93. Equity Residential has a one year low of $57.33 and a one year high of $78.83.

Hedge Funds Weigh In On Equity Residential

A number of institutional investors have recently bought and sold shares of the stock. Maryland Capital Advisors Inc. purchased a new position in shares of Equity Residential during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Equity Residential in the third quarter worth $29,000. Assetmark Inc. lifted its position in Equity Residential by 2,529.4% during the third quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 430 shares during the period. Brooklyn Investment Group bought a new stake in shares of Equity Residential during the 3rd quarter valued at $33,000. Finally, UMB Bank n.a. grew its position in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 195 shares during the period. 92.68% of the stock is owned by institutional investors.

About Equity Residential

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.