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

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

A number of other research analysts also recently weighed in on EQR. Barclays assumed coverage on Equity Residential in a report on Tuesday, December 17th. They issued an “overweight” rating and a $83.00 target price on the stock. BNP Paribas began coverage on shares of Equity Residential in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $83.00 price objective on the stock. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and boosted their target price for the company from $78.00 to $82.00 in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, Evercore ISI boosted their price objective on shares of Equity Residential from $75.00 to $76.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $78.69.

Equity Residential Price Performance

Shares of EQR opened at $67.43 on Monday. The firm has a market cap of $25.58 billion, a PE ratio of 27.64, a P/E/G ratio of 5.90 and a beta of 0.93. Equity Residential has a 1-year low of $57.33 and a 1-year high of $78.83. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $72.89 and a two-hundred day simple moving average of $72.59.

Hedge Funds Weigh In On Equity Residential

Several hedge funds have recently modified their holdings of EQR. Nordea Investment Management AB lifted its stake in Equity Residential by 3.1% in the 4th quarter. Nordea Investment Management AB now owns 32,658 shares of the real estate investment trust’s stock worth $2,341,000 after purchasing an additional 979 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Equity Residential by 9.9% in the fourth quarter. GAMMA Investing LLC now owns 6,966 shares of the real estate investment trust’s stock worth $500,000 after purchasing an additional 625 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Equity Residential by 4.6% in the third quarter. Franklin Resources Inc. now owns 182,397 shares of the real estate investment trust’s stock worth $13,430,000 after buying an additional 8,088 shares in the last quarter. Synovus Financial Corp boosted its stake in Equity Residential by 104.6% during the third quarter. Synovus Financial Corp now owns 17,195 shares of the real estate investment trust’s stock valued at $1,280,000 after buying an additional 8,789 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Equity Residential by 12.3% during the third quarter. Tidal Investments LLC now owns 129,258 shares of the real estate investment trust’s stock valued at $9,625,000 after buying an additional 14,109 shares during 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.