Mizuho Lowers Equity Residential (NYSE:EQR) Price Target to $71.00

Equity Residential (NYSE:EQR - Get Free Report) had its price target lowered by stock analysts at Mizuho from $76.00 to $71.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Mizuho's price objective indicates a potential upside of 2.93% from the stock's current price.

Several other research analysts have also weighed in on EQR. Wells Fargo & Company reduced their target price on Equity Residential from $77.00 to $75.00 and set an "equal weight" rating on the stock in a report on Friday, January 24th. Wall Street Zen upgraded Equity Residential from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Scotiabank increased their target price on Equity Residential from $79.00 to $82.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Royal Bank of Canada lifted their price target on shares of Equity Residential from $75.00 to $76.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Evercore ISI upped their price target on shares of Equity Residential from $74.00 to $76.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $79.50.

Equity Residential Trading Up 0.5%

Shares of Equity Residential stock traded up $0.36 during trading on Friday, hitting $68.98. 2,230,099 shares of the company were exchanged, compared to its average volume of 1,733,886. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $26.21 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 3.99 and a beta of 0.89. The firm's fifty day moving average price is $68.83 and its 200 day moving average price is $70.73. 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 released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. Equity Residential had a net margin of 34.76% and a return on equity of 9.27%. The business had revenue of $760.81 million for the quarter, compared to analyst estimates of $769.43 million. During the same quarter last year, the firm earned $0.93 EPS. Equity Residential's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Equity Residential will post 3.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EQR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Equity Residential by 119.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 483,753 shares of the real estate investment trust's stock worth $34,714,000 after purchasing an additional 263,622 shares during the last quarter. Vert Asset Management LLC raised its stake in Equity Residential by 7.5% in the fourth quarter. Vert Asset Management LLC now owns 150,245 shares of the real estate investment trust's stock valued at $10,782,000 after buying an additional 10,472 shares during the period. Mission Wealth Management LP acquired a new stake in shares of Equity Residential in the fourth quarter valued at approximately $321,000. Atomi Financial Group Inc. increased its holdings in shares of Equity Residential by 8.3% during the 4th quarter. Atomi Financial Group Inc. now owns 3,707 shares of the real estate investment trust's stock worth $266,000 after acquiring an additional 284 shares during the last quarter. Finally, Keybank National Association OH increased its holdings in shares of Equity Residential by 2.0% during the 4th quarter. Keybank National Association OH now owns 7,001 shares of the real estate investment trust's stock worth $502,000 after acquiring an additional 139 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

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.