Wells Fargo & Company Issues Pessimistic Forecast for Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK) Stock Price

Key Points

• Wells Fargo lowered its price target for Vivmark Residential (NYSE:VMRK) from $72 to $68 while maintaining an “overweight” rating, implying 11.75% upside from the previous close.
• Analyst sentiment is mixed: five analysts rate the stock a Buy and eleven rate it Hold, producing a consensus rating of “Hold” and an average price target of $71.42.
• VMRK shares fell 0.7% to $60.85, while insiders sold 58,286 shares worth approximately $3.74 million over the past three months; institutional investors own 92.68% of the stock.

Vivmark Residential Common Shares of Beneficial Interest (NYSE:VMRK - Get Free Report) had its price objective lowered by equities researchers at Wells Fargo & Company from $72.00 to $68.00 in a research report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 11.75% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings started coverage on Vivmark Residential Common Shares of Beneficial Interest in a report on Wednesday, August 19th. They issued a "hold (c)" rating for the company. Morgan Stanley began coverage on Vivmark Residential Common Shares of Beneficial Interest in a report on Tuesday, August 25th. They issued an "overweight" rating and a $75.00 price objective on the stock. Mizuho raised Vivmark Residential Common Shares of Beneficial Interest from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $70.00 to $73.00 in a report on Tuesday, September 8th. Piper Sandler cut their price objective on Vivmark Residential Common Shares of Beneficial Interest from $76.00 to $67.00 and set a "neutral" rating for the company in a research report on Monday, October 12th. Finally, BTIG Research restated a "neutral" rating on shares of Vivmark Residential Common Shares of Beneficial Interest in a research report on Thursday, September 17th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $71.42.

Vivmark Residential Common Shares of Beneficial Interest Trading Down 0.7%

Shares of Vivmark Residential Common Shares of Beneficial Interest stock traded down $0.41 during trading hours on Monday, reaching $60.85. The stock had a trading volume of 752,436 shares, compared to its average volume of 3,563,694. The company's 50 day simple moving average is $63.27. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.77. Vivmark Residential Common Shares of Beneficial Interest has a twelve month low of $57.57 and a twelve month high of $71.50. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 3.55 and a beta of 0.74.

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

Insider Transactions at Vivmark Residential Common Shares of Beneficial Interest

In related news, Director Susan Swanezy sold 15,700 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $63.80, for a total value of $1,001,660.00. Following the completion of the transaction, the director directly owned 28,934 shares of the company's stock, valued at approximately $1,845,989.20. This represents a 35.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward M. Schulman sold 16,595 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $64.29, for a total value of $1,066,892.55. Following the completion of the transaction, the executive vice president directly owned 48,776 shares of the company's stock, valued at approximately $3,135,809.04. This represents a 25.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 58,286 shares of company stock valued at $3,735,822. Insiders own 1.20% of the company's stock.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pensionfund Sabic purchased a new position in shares of Vivmark Residential Common Shares of Beneficial Interest in the third quarter worth about $3,181,000. Red Spruce Capital LLC purchased a new stake in Vivmark Residential Common Shares of Beneficial Interest during the 3rd quarter valued at about $1,367,000. Perpetual Ltd purchased a new stake in Vivmark Residential Common Shares of Beneficial Interest during the 3rd quarter valued at about $26,651,000. Pensionfund PDN purchased a new stake in Vivmark Residential Common Shares of Beneficial Interest during the 3rd quarter valued at about $6,617,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in Vivmark Residential Common Shares of Beneficial Interest during the 3rd quarter valued at about $42,080,000. Institutional investors and hedge funds 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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