Equity Residential (EQR), a large real estate investment trust (REIT), has been making strides recently with a series of strategic acquisitions. EQR has agreed to purhase 11 multifamily properties from Blackstone totaling 3572 units for close to $1 billion, an endeavor set to expand Equity Residential's portfolio in key growth markets. This acquisition from Blackstone supplements EQR's multifamily buying spree which included new properties in Denver and Atlanta. Despite chatter about rent fatigue and labor market risks, EQR’s stock performance has outpaced its competitors, even amid occasional losses. EQR continues to fetch strong analyst interests on the back of these growth-propelling acquisitions, strong revenue, and sales metrics quantified in its recent earnings calls. The residential REIT even attracted investments from large institutions including APG Asset Management and Westwood Holdings Group. Nevertheless, Bank of America downgraded EQR to Neutral amidst concerns about labor market softening. Rumors of illegal rent hikes led EQR tenants to demand $700M in rebates. Despite the challenges, EQR has racked up impressive growth with a YTD increase of 16.5%. The recent initiation from Goldman Sachs as Neutral further adds to EQR's mixed visibility in the market.
Equity Residential EQR News Analytics from Fri, 03 Nov 2023 07:00:00 GMT to Sun, 29 Sep 2024 09:27:05 GMT -
Rating 5
- Innovation 3
- Information 8
- Rumor -1
