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.
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Read More on EQR:
- Equity Residential initiated with an Overweight at Cantor Fitzgerald
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- Equity Residential price target raised to $72 from $71 at Evercore ISI
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