Mizuho Reiterates “$67.00” Price Target for Equity Residential (EQR)

Equity Residential (NYSE:EQR) received a $67.00 price target from equities researchers at Mizuho in a note issued to investors on Friday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Mizuho’s price objective would suggest a potential upside of 18.27% from the stock’s current price.

Several other brokerages have also commented on EQR. Jefferies Group reaffirmed a “hold” rating and issued a $62.00 price target on shares of Equity Residential in a research note on Monday. Cantor Fitzgerald set a $66.00 price target on Equity Residential and gave the company a “hold” rating in a research note on Monday. Stifel Nicolaus decreased their target price on Equity Residential from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, February 1st. SunTrust Banks set a $69.00 target price on Equity Residential and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, Zacks Investment Research raised Equity Residential from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.87.

Shares of Equity Residential (EQR) traded up $1.39 during trading hours on Friday, reaching $56.65. The company’s stock had a trading volume of 2,808,411 shares, compared to its average volume of 2,178,044. The company has a current ratio of 0.29, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86. The stock has a market cap of $20,925.51, a PE ratio of 34.38, a P/E/G ratio of 2.78 and a beta of 0.34. Equity Residential has a 12 month low of $55.21 and a 12 month high of $70.46.

Equity Residential (NYSE:EQR) last issued its earnings results on Tuesday, January 30th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.47). The company had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $625.83 million. Equity Residential had a net margin of 24.39% and a return on equity of 5.76%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 earnings per share. analysts predict that Equity Residential will post 3.23 EPS for the current year.

In other Equity Residential news, COO David S. Santee sold 5,589 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $58.18, for a total value of $325,168.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Scott Fenster sold 449 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.18, for a total value of $26,122.82. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock worth $819,000 in the last ninety days. 3.79% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd increased its holdings in shares of Equity Residential by 1.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,558 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 64 shares during the last quarter. 1st Global Advisors Inc. increased its holdings in shares of Equity Residential by 1.6% in the 2nd quarter. 1st Global Advisors Inc. now owns 15,020 shares of the real estate investment trust’s stock valued at $989,000 after acquiring an additional 241 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Equity Residential by 11.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,837 shares of the real estate investment trust’s stock valued at $318,000 after acquiring an additional 490 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Equity Residential by 1.9% in the 3rd quarter. Amalgamated Bank now owns 41,072 shares of the real estate investment trust’s stock valued at $2,708,000 after acquiring an additional 766 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Equity Residential by 2.1% in the 3rd quarter. CIBC Asset Management Inc now owns 40,272 shares of the real estate investment trust’s stock valued at $2,655,000 after acquiring an additional 819 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.

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Equity Residential Company Profile

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

Analyst Recommendations for Equity Residential (NYSE:EQR)

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