Equity Residential (EQR – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst John Kim from BMO Capital maintained a Buy rating on the stock and has a $79.00 price target.
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John Kim has given his Buy rating due to a combination of factors that highlight Equity Residential’s positive outlook. Despite a slowdown in new lease rates in certain regions, the company finished 2024 with a solid performance, including a 2.9% increase in Normalized FFOps. For 2025, the company’s guidance on blended rates is set above market expectations, indicating potential for further growth.
Furthermore, Equity Residential’s occupancy rates remain strong, with particular improvements seen in Los Angeles. The company’s financial health is underscored by a reduction in net debt to EBITDA, which supports a stable financial position. These factors combine to portray a promising scenario for Equity Residential, justifying the Buy rating by John Kim.
In another report released on January 24, Barclays also maintained a Buy rating on the stock with a $79.00 price target.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQR in relation to earlier this year.