Mizuho Issues Pessimistic Forecast for Equity Residential (NYSE:EQR) Stock Price

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

EQR has been the topic of a number of other research reports. Barclays started coverage on shares of Equity Residential in a research report on Tuesday, December 17th. They set an “overweight” rating and a $83.00 price target on the stock. Evercore ISI lifted their target price on Equity Residential from $75.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. BNP Paribas began coverage on Equity Residential in a report on Wednesday, September 11th. They set an “outperform” rating and a $83.00 price target on the stock. StockNews.com downgraded shares of Equity Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, December 11th. Finally, Scotiabank cut their price objective 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. One research 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, the stock has a consensus rating of “Hold” and a consensus price target of $78.69.

Equity Residential Stock Performance

NYSE:EQR opened at $70.90 on Monday. The company has a market capitalization of $26.90 billion, a PE ratio of 29.06, a P/E/G ratio of 5.90 and a beta of 0.93. Equity Residential has a fifty-two week low of $57.33 and a fifty-two week high of $78.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50 day simple moving average of $73.16 and a two-hundred day simple moving average of $72.59.

Institutional Trading of Equity Residential

Several hedge funds and other institutional investors have recently modified their holdings of EQR. Maryland Capital Advisors Inc. purchased a new position in Equity Residential in the 3rd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Equity Residential during the 3rd quarter valued at $29,000. Assetmark Inc. lifted its holdings 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 worth $33,000 after purchasing an additional 430 shares in the last quarter. Brooklyn Investment Group bought a new position in Equity Residential in the 3rd quarter worth about $33,000. Finally, UMB Bank n.a. grew 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 valued at $35,000 after buying an additional 195 shares in the last quarter. 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.