Equity Residential (EQR) Upgraded at Mizuho

Equity Residential (NYSE:EQR) was upgraded by equities researchers at Mizuho from a “neutral” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $76.00 target price on the real estate investment trust’s stock. Mizuho’s price target suggests a potential upside of 11.42% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Equity Residential from $71.00 to $68.00 and set a “hold” rating for the company in a report on Friday, October 27th. TheStreet cut shares of Equity Residential from a “b” rating to a “c+” rating in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. SunTrust Banks, Inc. set a $71.00 target price on shares of Equity Residential and gave the stock a “buy” rating in a report on Tuesday, October 24th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $70.00 target price on shares of Equity Residential in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $69.36.

Shares of Equity Residential (NYSE EQR) opened at $68.21 on Monday. The firm has a market cap of $25,066.14, a P/E ratio of 22.00, a P/E/G ratio of 3.45 and a beta of 0.37. Equity Residential has a 1-year low of $58.28 and a 1-year high of $68.83. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86.

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In other Equity Residential news, CFO Mark J. Parrell sold 45,400 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $68.00, for a total value of $3,087,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Samuel Zell sold 91,651 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $67.17, for a total transaction of $6,156,197.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,306 shares of company stock valued at $23,823,824. Insiders own 3.79% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in EQR. Xact Kapitalforvaltning AB lifted its position in Equity Residential by 2.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 45,070 shares of the real estate investment trust’s stock worth $2,967,000 after buying an additional 1,192 shares in the last quarter. National Pension Service lifted its position in Equity Residential by 14.4% in the 2nd quarter. National Pension Service now owns 362,574 shares of the real estate investment trust’s stock worth $24,039,000 after buying an additional 45,621 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in Equity Residential by 525.9% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 61,036 shares of the real estate investment trust’s stock worth $4,018,000 after buying an additional 51,284 shares in the last quarter. LS Investment Advisors LLC lifted its position in Equity Residential by 2.6% in the 2nd quarter. LS Investment Advisors LLC now owns 11,176 shares of the real estate investment trust’s stock worth $736,000 after buying an additional 279 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Equity Residential by 7.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 94,847 shares of the real estate investment trust’s stock worth $6,230,000 after buying an additional 6,360 shares in the last quarter. Institutional investors own 90.97% of the company’s stock.

About Equity Residential

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.

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