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Fly News Breaks for March 16, 2015
AVB, MAA, ESS, EQR
Mar 16, 2015 | 07:58 EDT
Jefferies said its channel checks suggest that Apartment REITs' strong Q4 fundamentals have continued into Q1 and could accelerate, making the firm more confident that 2015 FFO per share guidance for the group could prove to be conservative again this year as it was last year. The firm raised its price target on Equity Residential (EQR) to $82 from $75 and its price target on Essex Property Trust (ESS) to $250 from $223, noting that coastal markets appear to be bigger beneficiaries of the strong apartment market, but maintains its Hold rating on both stocks. Jefferies has Buy ratings on Mid-America Apartment (MAA) and AvalonBay (AVB).
News For EQR;ESS;MAA;AVB From the Last 2 Days
EQR
Mar 18, 2024 | 05:04 EDT
Raymond James upgraded Equity Residential to Market Perform from Underperform without a price target. The analyst cites the "surprisingly strong" year-to-date demand trends in several West Coast markets for the upgrade. After several years of deteriorating quality-of-life and safety issues, coupled with workforces highly resistant to return-to-office mandates, the firm's pricing data is indicating significant year-to-date outperformance from the three major West Coast tech markets of San Francisco, San Jose and Seattle, the analyst tells investors in a research note.