Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK) Given New $66.00 Price Target at Scotiabank

Key Points

• Scotiabank lowered its price target for Vivmark Residential from $70 to $66 while maintaining a “sector perform” rating, implying approximately 3.92% upside from the prior close.
• Analyst sentiment remains mixed but leans toward a consensus “Hold” rating, with five Buy ratings and ten Holds and an average price target of $73.29.
• VMRK shares rose 0.8% to $63.51, while company insiders sold 58,286 shares worth approximately $3.74 million over the past 90 days.

Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Get Free Report) had its target price decreased by investment analysts at Scotiabank from $70.00 to $66.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price would indicate a potential upside of 3.92% from the stock's previous close.

Several other research firms have also issued reports on VMRK. JPMorgan Chase & Co. initiated coverage on shares of Vivmark Residential Common Shares of Beneficial Interest in a report on Monday, August 24th. They issued a "neutral" rating and a $73.00 target price for the company. Morgan Stanley began coverage on shares of Vivmark Residential Common Shares of Beneficial Interest in a research note on Tuesday, August 25th. They issued an "overweight" rating and a $75.00 price objective for the company. BMO Capital Markets lowered their target price on shares of Vivmark Residential Common Shares of Beneficial Interest from $75.00 to $74.00 and set a "market perform" rating on the stock in a research note on Monday, August 24th. Piper Sandler upped their target price on shares of Vivmark Residential Common Shares of Beneficial Interest from $75.00 to $76.00 and gave the stock a "neutral" rating in a report on Wednesday, August 26th. Finally, KeyCorp started coverage on Vivmark Residential Common Shares of Beneficial Interest in a report on Wednesday, August 26th. They set a "sector weight" rating on the stock. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $73.29.

Vivmark Residential Common Shares of Beneficial Interest Stock Up 0.8%

VMRK traded up $0.52 during trading on Thursday, hitting $63.51. The company's stock had a trading volume of 1,160,513 shares, compared to its average volume of 3,318,072. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.77. Vivmark Residential Common Shares of Beneficial Interest has a one year low of $57.57 and a one year high of $71.50. The company has a market capitalization of $23.81 billion, a PE ratio of 27.59, a PEG ratio of 3.60 and a beta of 0.73.

Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $0.30 EPS for the quarter. The firm had revenue of $785.05 million during the quarter. Vivmark Residential Common Shares of Beneficial Interest had a return on equity of 8.06% and a net margin of 27.97%. As a group, equities analysts forecast that Vivmark Residential Common Shares of Beneficial Interest will post 4.07 EPS for the current year.

Insider Activity

In other Vivmark Residential Common Shares of Beneficial Interest news, Director Susan Swanezy sold 15,700 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $63.80, for a total transaction of $1,001,660.00. Following the completion of the transaction, the director owned 28,934 shares in the company, valued at $1,845,989.20. This trade represents a 35.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael L. Manelis sold 7,825 shares of Vivmark Residential Common Shares of Beneficial Interest stock in a transaction on Monday, August 17th. The stock was sold at an average price of $64.31, for a total transaction of $503,225.75. Following the completion of the transaction, the chief operating officer directly owned 44,713 shares of the company's stock, valued at $2,875,493.03. The trade was a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 58,286 shares of company stock worth $3,735,822. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vivmark Residential Common Shares of Beneficial Interest

A hedge fund recently bought a new position in Vivmark Residential Common Shares of Beneficial Interest stock. Syon Capital LLC acquired a new stake in shares of Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,206 shares of the company's stock, valued at approximately $354,000. Institutional investors own 92.68% of the company's stock.

Vivmark Residential Common Shares of Beneficial Interest 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 high quality long-term renters. Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, DC, Seattle, San Francisco, Southern California and Denver.

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