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

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

Several other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. JPMorgan Chase & Co. upped their price target on Equity Residential from $68.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. StockNews.com cut shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, December 11th. Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and upped their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. Finally, 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 report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $78.69.

Equity Residential Stock Performance

Shares of NYSE EQR opened at $67.56 on Monday. The stock has a market cap of $25.63 billion, a PE ratio of 27.69, a price-to-earnings-growth 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 firm has a fifty day moving average price of $72.76 and a 200-day moving average price of $72.55. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be given a $0.675 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a yield of 4.00%. Equity Residential’s dividend payout ratio is presently 110.66%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Tobam lifted its holdings in shares of Equity Residential by 8.6% in the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock worth $143,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. lifted its stake in Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 195 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Equity Residential by 32.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 200 shares during the period. Modera Wealth Management LLC boosted its position in shares of Equity Residential by 6.5% during the third quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 200 shares during the period. Finally, Carmel Capital Partners LLC grew its stake in shares of Equity Residential by 3.3% during the third quarter. Carmel Capital Partners LLC now owns 6,329 shares of the real estate investment trust’s stock valued at $471,000 after buying an additional 205 shares during the last quarter. 92.68% of the stock is 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.