Equity Residential (EQR) has experienced a strong performance with shares up 16.5% YTD eliciting bullish sentiments from analysts. The company has been actively expanding its footprint with a recent deal to acquire nearly $1 billion worth of apartments from Blackstone, adding 11 apartment properties to its portfolio. A number of buyers, including Diversified Trust Co, Gateway Investment Advisers LLC, and BDF Gestion, have also increased their shares in the company reflective of its strong market position. EQR’s Q1 and Q2 2024 financial reports show growth and a trend of surpassing estimated FFO, leading to increased price targets by Scotiabank and Wedbush. However, it also faced some turbulence with allegations of illegal rent hikes from tenants demanding $700M. Still, the company updated its earnings guidance for 2024 indicating strong rental demand helping it stay strong.
Equity Residential EQR News Analytics from Fri, 03 Nov 2023 07:00:00 GMT to Sun, 18 Aug 2024 10:39:26 GMT -
Rating 8
- Innovation -4
- Information 7
- Rumor -3
