Equity Residential (EQR) has demonstrated significant performance and earns recognition as a choice of investment for long-term growth. With a YTD increase of 20.8%, the company's stock has shown a promising trend. Renowned financial strategist
Jim Cramer lauded the real estate investment trust as an 'amazing stock' and a 'total winner'. EQR’s consistent acquisition strategy is noteworthy, having recently purchased a portfolio worth nearly $1 billion from
Blackstone Real Estate. This strengthens EQR’s position in multi-family properties, with the acquisition including 11 communities and a total of 3,572 units. Other acquisitions include a $126M multifamily property in Atlanta and another blackstone’s apartment portfolio worth $964M. Nevertheless, shares also experienced a dip, falling to $77.44. However, the price target has since been raised to $81.00. In terms of earnings, their Q2 2024 reported a GAAP EPS of $0.47, leading the company to boost its full-year earnings guidance after an overall modest Q2 beat. Looking forward, analysts anticipate a steady growth, which positions EQR favorably for future performance.
Equity Residential EQR News Analytics from Fri, 03 Nov 2023 07:00:00 GMT to Fri, 04 Oct 2024 21:03:00 GMT -
Rating 7
- Innovation 2
- Rumor -3
