Equity Residential (NYSE:EQR) Price Target Lowered to $75.00 at Wells Fargo & Company

Equity Residential (NYSE:EQR) had its target price decreased by Wells Fargo & Company from $77.00 to $75.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.77% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Stifel Nicolaus upgraded shares of Equity Residential from a “hold” rating to a “buy” rating and raised their target price for the stock from $77.75 to $81.50 in a research report on Wednesday, November 13th. Royal Bank of Canada decreased their price target 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. StockNews.com upgraded shares of Equity Residential from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Barclays decreased their target price on shares of Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Mizuho dropped their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Equity Residential has a consensus rating of “Hold” and an average price target of $78.36.

Equity Residential Stock Up 0.2 %

Equity Residential stock opened at $68.33 on Friday. The company has a market capitalization of $25.92 billion, a P/E ratio of 28.00, a PEG ratio of 5.36 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. Equity Residential has a fifty-two week low of $57.33 and a fifty-two week high of $78.83. The stock has a 50-day simple moving average of $72.00 and a 200-day simple moving average of $72.59.

Institutional Investors Weigh In On Equity Residential

A number of institutional investors and hedge funds have recently modified their holdings of the company. AdvisorNet Financial Inc boosted its position in Equity Residential by 25.3% during the fourth quarter. AdvisorNet Financial Inc now owns 722 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 146 shares in the last quarter. Tobam raised its stake in shares of Equity Residential by 8.6% during the 3rd quarter. Tobam now owns 1,927 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 152 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Equity Residential by 69.6% in the 3rd quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 195 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Equity Residential by 32.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 811 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 200 shares during the last quarter. Finally, Modera Wealth Management LLC increased its holdings in Equity Residential by 6.5% during the 3rd quarter. Modera Wealth Management LLC now owns 3,278 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds 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.