Equity Residential (EQR) has created substantial market buzz. Major institutional and retail investors are making significant investments in EQR. Illinois Municipal Retirement Fund, Norden Group LLC, BI Asset Management Fondsmaeglerselskab A S, and SG Americas Securities LLC were among those boosting their stock holdings. In contrast, Tokio Marine Asset Management Co. Ltd and Wellington Management Group LLP reduced their positions. Despite litigations from Portside Towers tenants, the company’s stock has performed positively, with a YTD increase of 10.3%. Investors seem bullish on EQR, perhaps because of robust Q1 2024 earnings and better-than-expected FFO and revenues. However, there have been insider sell-off signals with EVP selling shares worth over $439k. The company has also experienced a 8.1% decrease in short interest. Looking forward, EQR is set to present at REITWeek, and various analysts are predicting an upward price adjustment. The company has sold multifamily asset in SoCal for $127M and acquired two Atlanta-area properties for $179.7M, indicating strategic portfolio adjustments. Truist Financial also raised EQR’s price target to $73.00. Despite potential EPS and FFO shortfall, Equity Residential remains a prominent player in the global apartment companies. The death of visionary founder Sam Zell may impact strategic decisions.
Equity Residential EQR News Analytics from Fri, 23 Oct 2020 07:00:00 GMT to Sun, 14 Jul 2024 16:44:04 GMT -
Rating 8
- Innovation 1
- Information 7
- Rumor -3
