Equity Residential (NYSE:EQR) Price Target Cut to $74.00 by Analysts at Mizuho

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

A number of other equities analysts have also commented on EQR. Evercore ISI raised their price objective on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada dropped their price target on Equity Residential from $83.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $83.00 in a research report on Tuesday, September 10th. Finally, Bank of America lowered shares of Equity Residential from a “buy” rating to a “neutral” rating and increased their price target for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.69.

Equity Residential Stock Performance

NYSE EQR opened at $68.37 on Monday. The firm has a 50-day moving average price of $73.02 and a two-hundred day moving average price of $72.59. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The company has a market capitalization of $25.94 billion, a P/E ratio of 28.02, a P/E/G ratio of 5.90 and a beta of 0.93. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.76.

Equity Residential Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, January 2nd. Equity Residential’s payout ratio is 110.66%.

Institutional Trading of Equity Residential

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

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.