RBC Capital raised the firm’s price target on Equity Residential (EQR) to $76 from $75 and keeps an Outperform rating on the shares. The company’s Q1 results were slightly above our expectations, and forward guidance shows no impact from either the macro or the April slowing reported by data aggregators, the firm notes. Equity Residential is coming from a position of particular strength on the occupancy front. D.C. continues to show no sign of a DOGE-related slowdown, while San Francisco and Seattle are moving along in the recovery process, RBC adds.
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