Truist analyst Michael Lewis lowered the firm’s price target on Equity Residential (EQR) to $75 from $78 but keeps a Buy rating on the shares. The firm remains concerned about national job growth, but still projects the REIT to achieve among the highest 2026 FFO per share growth rates in its apartment REIT coverage universe, the analyst tells investors in a research note. Following the pullback this year, the stock looks “significantly undervalued” at a nearly 6.1% implied cap rate, the firm added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EQR:
- Equity Residential price target lowered to $77 from $78 at Scotiabank
- Equity Residential price target lowered to $75 from $76.50 at Morgan Stanley
- Equity Residential price target lowered to $81 from $83 at Barclays
- Equity Residential price target raised to $80.50 from $80 at Stifel
- Equity Residential: Hold Rating Amid Mixed Signals and Lease Growth Concerns