Scotiabank raised the firm’s price target on Equity Residential (EQR) to $67 from $66 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for U.S. Multifamily REITs under its coverage, the analyst tells investors. The firm notes most markets are at lower occupancy levels than pre-COVID period of 2015-2019. Investors will have to wait for Spring leasing and signs of better market growth before finding a positive catalyst, the firm adds.
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Read More on EQR:
- Equity Residential price target raised to $64 from $61 at Cantor Fitzgerald
- Equity Residential Balances Stable Occupancy With Slower Growth
- Equity Residential price target lowered to $78.50 from $79.75 at Stifel
- Equity Residential: Mixed Fundamentals and Limited Growth Outlook Support Hold Rating
- Equity Residential reports Q4 normalized FFO $1.03c, consensus $1.04