Analyst Explains Why They Upgraded Their Rating on Equity Residential (EQR)
BMO Capital analyst John Kim upgraded Equity Residential (EQR) to Hold today and set a price target of $61.00. The company’s shares closed last Friday at $58.26.
According to TipRanks.com, Kim is a 3-star analyst with an average return of 1.2% and a 51.2% success rate. Kim covers the Financial sector, focusing on stocks such as Apartment Investment & Management, Retail Opportunity Investments, and Easterly Government Properties.
Currently, the analyst consensus on Equity Residential is a Hold with an average price target of $60.82, implying a 4.9% upside from current levels. In a report issued on January 6, J.P. Morgan also maintained a Hold rating on the stock with a $66.00 price target.
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The company has a one-year high of $87.53 and a one-year low of $45.43. Currently, Equity Residential has an average volume of 2.89M.
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Equity Residential operates as a real estate investment trust. It engages in the acquisition, development, and management of rental apartment properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The company was founded by Robert H. Lurie and Sam Zell in March 1993 and is headquartered in Chicago, IL.