Raymond James upgraded Equity Residential to Market Perform from Underperform without a price target. The analyst cites the “surprisingly strong” year-to-date demand trends in several West Coast markets for the upgrade. After several years of deteriorating quality-of-life and safety issues, coupled with workforces highly resistant to return-to-office mandates, the firm’s pricing data is indicating significant year-to-date outperformance from the three major West Coast tech markets of San Francisco, San Jose and Seattle, the analyst tells investors in a research note.
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Read More on EQR:
- Equity Residential Senior Management to Present at Citi Conference
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- Equity Residential resumed with a Buy at Goldman Sachs
- Equity Residential price target lowered to $67 from $69 at Barclays
