Equity Residential price target raised to $66 from $56 at Morgan Stanley » 07:4411/2011/20/20
Morgan Stanley analyst…
Morgan Stanley analyst Richard Hill raised the firm's price target on Equity Residential to $66 from $56 and keeps an Equal Weight rating on the shares as he raised his view across the board on apartment REITs based on the "green shoots" he sees emerging from stabilizing occupancy and "less bad" rent growth in Q4. He remains on sidelines given exposure to urban markets in New York City and California, the analyst noted.
|Over a week ago|
Equity Residential downgraded to Hold from Buy at Argus » 07:3411/1311/13/20
Argus analyst Angus…
Argus analyst Angus Kelleher-Ferguson downgraded Equity Residential to Hold from Buy. The REIT is facing pressure from apartment oversupply in its key markets of NYC, San Francisco, and Los Angeles, which together account for 55% of revenue, the analyst tells investors in a research note. Equity Residential is also seeing softer demand due to COVID-19, particularly with the recent surge in cases that has forced some cities to reverse their reopening plans, Kelleher-Ferguson adds.
Equity Residential downgraded to Hold from Buy at Argus » 07:2211/1311/13/20
Argus analyst Jacob…
Argus analyst Jacob Kilstein downgraded Equity Residential to Hold from Buy.
Equity Residential price target raised to $79 from $72 at BTIG » 07:2211/1211/12/20
BTIG analyst James…
BTIG analyst James Sullivan raised the firm's price target on Equity Residential to $79 from $72 and keeps a Buy rating on the shares as part of a broader sector note, highlighting that with COVID vaccine expected next year, he expects employees to return to offices mid-year and spur increased demand from renters. Sullivan adds however that the REIT's urban-focused high-end portfolio could yield a slower recovery for Equity Residential relative to its peers.
Equity Residential price target raised to $68 from $62 at Mizuho » 06:5011/1011/10/20
Mizuho analyst Haendel…
Mizuho analyst Haendel St. Juste raised the firm's price target on Equity Residential to $68 from $62 and keeps a Buy rating on the shares.
Equity Residential reports Q3 normalized FFO 77c, consensus 82c » 16:1410/2710/27/20
Reports Q3 revenue…
Reports Q3 revenue $622.43M, consensus $642.81M.
|Over a month ago|
Equity Residential initiated with an Equal Weight at Wells Fargo » 16:2310/2010/20/20
Wells Fargo analyst…
Wells Fargo analyst Tamara Fique initiated coverage of Equity Residential with an Equal Weight rating and $54 price target as the analyst started coverage of the multifamily REIT sector "with a cautiously optimistic view." Fique believes Equity Residential is attractively priced relative to its long-term growth prospects, but in the near-term is concerned with the company's "more urban-based housing," the analyst tells investors.
Equity Residential initiated with a Buy at UBS » 07:0510/1610/16/20
UBS analyst Brent Dilts…
UBS analyst Brent Dilts initiated coverage of Equity Residential with a Buy rating and $63 price target. The fundamentals on the REIT are "solid" with a portfolio that is 76% coastal urban and consists of a "solid" tenant base, the analyst tells investors in a research note. Dilts adds that at a 23% discount to consensus net asset value, shares are undervalued and should re-rate higher over the coming quarters.
Equity Residential upgraded to Buy from Neutral at Mizuho » 05:1309/0109/01/20
Mizuho analyst Haendel…
Mizuho analyst Haendel St. Juste upgraded Equity Residential to Buy from Neutral with a price target of $63, up from $62. The analyst views Equity Residential as a "contrarian play" in the apartment real estate investment trust space. Apartments have underperformed year-to-date on concerns that the pandemic is driving an exodus from cities, longer-term concerns about the impact of the relaxation of corporate work-from-home mandates, and declining earnings growth prospects, St. Juste tells investors in a research note. The analyst, however, sees the Sunbelt apartment REITs as "net winners" in the near-term and believes Equity Residential shares now offer an "intriguing risk/reward."
|Over a quarter ago|
Equity Residential downgraded to Underperform from Market Perform at BMO » 05:5408/0308/03/20
BMO Capital analyst John…
BMO Capital analyst John Kim downgraded Equity Residential (EQR) to Underperform from Market Perform with a price target of $51, down from $68. The value proposition of Equity Residential's premium apartment portfolio has been compromised with the "gravitational push" to return to work beyond this year, Kim tells investors in a research note. The analyst estimates the company has the multifamily portfolio with the highest average rent and rent-to-income ratios, as well as the highest average daytime populations surrounding its communities. This warrants a premium valuation under normal circumstances, but COVID-19 has shifted renter priorities, says Kim. The analyst calls MAA (MAA) his top pick in the Apartment real estate investment trust sector.