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Equity Residential (NYSE:EQR) target price lowered to $60.00, reported today by Morgan Stanley

Yesterday Equity Residential (NYSE:EQR) traded 0.09% higher at $67.27. EQR’s 50-day average is $65.88 and its two hundred day moving average is $68.85. The last stock price is down 6.44% relative to the 200-day average, compared to the S&P 500 which has decreased -0.01% over the same time. Trade volume was was up over the average, with 4,428,491 shares of EQR changing hands over the typical 2,392,370 shares..

Reporting a possible downside of -0.11%, Morgan Stanley lowered the target stock price of Equity Residential (NYSE:EQR) to $60

Previously on 7/18/2016, Deutsche Bank released a statement on Equity Residential(NYSE:EQR) raised the target price from $73.00 to $74.00 that suggested an upside of 0.06%.

See Graphic Below:

Equity Residential (NYSE:EQR)

In addition to Morgan Stanley reporting it’s price target, a total of 22 brokerages have released a research note on the company. The 12-month target is $74.25 with three firms rating the company a strong buy, five analysts rating the stock a buy, 16 analysts rating the stock a hold, one brokerage rating the company to underperform, and lastly one brokerage rating the company as sell.

Equity Residential has a 52 week low of $62.39 and a 52 week high of $82.39 with a P/E ratio of 6. EQR’s total market value is presently $0.0.

General Information About Equity Residential (NYSE:EQR)

Equity Residential is a real estate investment trust. The Company is focused on the acquisition, development and management of apartment properties in various markets of the United States. The Company’s segments include Boston, New York, San Francisco, Seattle, Southern California, Washington D.C., Non-core – South Florida, Non-core – Denver, and Non-core – other. ERP Operating Limited Partnership (Operating Partnership) conducts the multifamily residential property business of the Company. The Company’s property ownership, development and related business operations are conducted through the Operating Partnership. The Company holds interests in approximately 390 properties located in over 10 states and the District of Columbia, consisting of approximately 109, 650 apartment units. Its properties are of various building types, such as garden, mid/high-rise and military housing. Its core properties are located in New York, Los Angeles, Boston, Seattle and San Diego, and among others.

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