Equity Residential (NYSE:EQR) Given New $71.00 Price Target at Mizuho

Equity Residential (NYSE:EQR - Get Free Report) had its target price decreased by investment analysts at Mizuho from $76.00 to $71.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. Mizuho's price objective suggests a potential upside of 4.94% from the company's current price.

EQR has been the topic of several other research reports. Barclays increased their target price on Equity Residential from $79.00 to $83.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Stifel Nicolaus dropped their price target on Equity Residential from $82.25 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Royal Bank of Canada upped their target price on shares of Equity Residential from $75.00 to $76.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Truist Financial upped their price objective on Equity Residential from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Evercore ISI increased their price target on Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $79.50.

Equity Residential Stock Down 0.9%

Shares of Equity Residential stock traded down $0.65 during midday trading on Friday, hitting $67.66. The company's stock had a trading volume of 540,728 shares, compared to its average volume of 1,726,228. The stock has a 50-day simple moving average of $68.94 and a 200-day simple moving average of $70.83. The firm has a market capitalization of $25.71 billion, a P/E ratio of 24.83, a PEG ratio of 3.99 and a beta of 0.89. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.72. Equity Residential has a 1-year low of $59.41 and a 1-year high of $78.84.

Equity Residential (NYSE:EQR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $760.81 million for the quarter, compared to analyst estimates of $769.43 million. Equity Residential had a return on equity of 9.27% and a net margin of 34.76%. The business's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. As a group, sell-side analysts expect that Equity Residential will post 3.98 earnings per share for the current year.

Institutional Investors Weigh In On Equity Residential

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Equity Residential during the fourth quarter valued at about $2,493,426,000. Nuveen LLC bought a new stake in Equity Residential during the 1st quarter valued at $165,442,000. Northern Trust Corp lifted its stake in Equity Residential by 53.1% in the fourth quarter. Northern Trust Corp now owns 6,476,004 shares of the real estate investment trust's stock worth $464,718,000 after acquiring an additional 2,246,555 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Equity Residential by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,711,588 shares of the real estate investment trust's stock worth $1,482,537,000 after purchasing an additional 1,101,027 shares during the period. Finally, Invesco Ltd. boosted its position in Equity Residential by 12.0% during the 4th quarter. Invesco Ltd. now owns 6,522,442 shares of the real estate investment trust's stock valued at $468,050,000 after acquiring an additional 696,343 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.

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