Equity Residential (EQR) has been in the news frequently lately. This is largely due to their recent
acquisition of 11 apartment properties, totaling 3,572 units, from Blackstone for an estimated
$964M. The firm is also looking at purchasing an
additional $1 billion apartment portfolio from Blackstone Real Estate. This move expands EQR's market presence and assets under management, in line with its strategic plan.
Despite some intermittent underperformance, the outlook for EQR remains positive, as they have managed to achieve steady
revenue growth and boost their stock holdings consistently. This is reflected in the various
analyst upgrades, ratings, and raised price targets EQR's stock has received lately. Optimism about EQR performance has also been heightened following the strong revenue and sales metrics reported in their recent Q2 earnings call.
However, the entity also faces some challenges including a lawsuit from tenants alleging illegal rent hikes amounting to $700M. Nevertheless, the company remains well-positioned in the market, with their common and preferred shares’ dividends being set.
Equity Residential EQR News Analytics from Fri, 03 Nov 2023 07:00:00 GMT to Sun, 15 Sep 2024 13:03:18 GMT -
Rating 7
- Innovation 3
- Information 8
- Rumor -6
