Mizuho Securities analyst Haendel St. Juste has maintained their neutral stance on EQR stock, giving a Hold rating yesterday.
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Haendel St. Juste has given his Hold rating due to a combination of factors impacting Equity Residential’s financial outlook. The company’s FY25 FFO guidance is slightly below expectations, partly due to challenges from non-core items such as interest expenses and lower NOI contributions from certain assets. Additionally, the guidance accounts for asset sales and does not anticipate benefits from potential occupancy lifts following events like the LA County wildfires.
Despite these challenges, there are positive indicators, such as stabilization in portfolio pricing trends and an expected improvement in demand in markets like San Francisco and Seattle. These factors suggest potential for rent growth in the latter half of 2025. Overall, while current guidance has some headwinds, the company’s positioning for future improvements justifies a Hold rating at this time.
In another report released yesterday, Scotiabank also maintained a Hold rating on the stock with a $78.00 price target.