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.
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Read More on EQR:
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