Scotiabank lowered the firm’s price target on Equity Residential (EQR) to $78 from $81 and keeps a Sector Perform rating on the shares. Rental demand remains robust, which should persist into 2025 due to affordability issues for homeownership and a prospect for stable-to-improving employment growth, the analyst tells investors. Elevated supply pressures across various Top 25 markets, however, should temper rent growth for at least another year, the firm adds.
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Read More on EQR:
- Stifel upgrades Equity Residential to Buy from Hold
- Equity Residential upgraded to Buy from Hold at Stifel
- Equity Residential price target raised to $90 from $85 at Piper Sandler
- Equity Residential Reports Mixed Q3 2024 Results
- Equity Residential reports Q3 normalized FFO 98c, consensus 98c
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