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

Equity Residential (NYSE:EQR) had its target price trimmed by Mizuho from $78.00 to $74.00 in a report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on EQR. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $83.00 in a report on Tuesday, September 10th. Scotiabank lowered their target price on Equity Residential from $81.00 to $78.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and raised their price target for the company from $78.00 to $82.00 in a research note on Tuesday, September 24th. Evercore ISI upped their price objective 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. Finally, Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and increased their target price for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.69.

Equity Residential Trading Up 0.2 %

Shares of EQR opened at $67.56 on Monday. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 5.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a 1-year low of $57.33 and a 1-year high of $78.83. The company has a 50-day moving average of $72.76 and a 200 day moving average of $72.55.

Equity Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.70 annualized dividend and a yield of 4.00%. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

Institutional Investors Weigh In On Equity Residential

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maryland Capital Advisors Inc. acquired a new position in shares of Equity Residential during the third quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Equity Residential during the 3rd quarter worth approximately $29,000. Brooklyn Investment Group acquired a new position in Equity Residential during the 3rd quarter valued at approximately $33,000. Assetmark Inc. increased its stake in Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Equity Residential by 69.6% during the third 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 currently owned by hedge funds and other 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.