Evercore ISI analyst Steve Sakwa lowered the firm’s price target on Equity Residential (EQR) to $71 from $72 and keeps an Outperform rating on the shares. Q3 “wasn’t kind” to residential REITs as job market jitters and declining mortgage rates dampened enthusiasm for new leases in apartments and single family rentals, the analyst tells investors in an earnings preview for the group.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EQR:
- Equity Residential initiated with an Overweight at Cantor Fitzgerald
- Equity Residential price target lowered to $80 from $81 at Barclays
- Equity Residential downgraded to Neutral from Outperform at BNP Paribas Exane
- Equity Residential price target raised to $72 from $71 at Evercore ISI
- Equity Residential CEO to Speak at Real Estate Conference