Mizuho Cuts Equity Residential (NYSE:EQR) Price Target to $74.00

Equity Residential (NYSE:EQR - Free Report) had its price target reduced by Mizuho from $78.00 to $74.00 in a report released on Monday,Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust's stock.

A number of other brokerages have also weighed in on EQR. JPMorgan Chase & Co. lifted their target price on Equity Residential from $68.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, September 16th. Royal Bank of Canada lowered their price objective on shares of Equity Residential from $83.00 to $79.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Evercore ISI raised their target price on shares of Equity Residential from $75.00 to $76.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Bank of America cut shares of Equity Residential from a "buy" rating to a "neutral" rating and upped their price target for the stock from $78.00 to $82.00 in a research report on Tuesday, September 24th. 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 report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of "Hold" and an average price target of $78.69.

Equity Residential Trading Down 3.6 %

Shares of NYSE:EQR traded down $2.53 during trading on Monday, reaching $68.37. 1,654,689 shares of the company were exchanged, compared to its average volume of 1,311,763. The business's fifty day simple moving average is $73.02 and its 200-day simple moving average is $72.59. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.13 and a quick ratio of 0.13. Equity Residential has a 12-month low of $57.33 and a 12-month high of $78.83. The firm has a market capitalization of $25.94 billion, a PE ratio of 28.02, a P/E/G ratio of 5.90 and a beta of 0.93.

Equity Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be paid a $0.675 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.70 dividend on an annualized basis and a yield of 3.95%. Equity Residential's dividend payout ratio (DPR) is 110.66%.

Institutional Trading of Equity Residential

Several large investors have recently added to or reduced their stakes in EQR. TD Asset Management Inc boosted its position in Equity Residential by 2.3% in the second quarter. TD Asset Management Inc now owns 119,256 shares of the real estate investment trust's stock valued at $8,269,000 after buying an additional 2,646 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Equity Residential by 3,264.2% during the second quarter. Los Angeles Capital Management LLC now owns 124,979 shares of the real estate investment trust's stock worth $8,666,000 after purchasing an additional 121,264 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Equity Residential during the second quarter valued at $50,000. Acadian Asset Management LLC lifted its position in Equity Residential by 1,279.0% during the second quarter. Acadian Asset Management LLC now owns 48,210 shares of the real estate investment trust's stock valued at $3,339,000 after purchasing an additional 44,714 shares during the period. Finally, Quest Partners LLC boosted its holdings in Equity Residential by 244,571.4% in the second quarter. Quest Partners LLC now owns 17,127 shares of the real estate investment trust's stock valued at $1,188,000 after purchasing an additional 17,120 shares during the last quarter. Hedge funds and other 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.