Cantor Fitzgerald Starts Equity Residential (EQR) at Hold; Down the Rabbit Hole
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Price: $63.66 --0%
Rating Summary:
12 Buy, 29 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
12 Buy, 29 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Cantor Fitzgerald initiates coverage on Equity Residential (NYSE: EQR) with a Hold. PT $63.50.
Cantor analyst said, "Like Alice (in Wonderland), Equity Residential has struggled with its scale perception -- expanding in the 2000s to become the largest multifamily REIT, then shrinking in recent years in order to hone its sprawling footprint. Now, bigger is back, as the company attempts to help itself to a $1.3 billion slice of Archstone. Although armed with copious amounts of capital, we hesitate to get in front of a potentially pricey mega-deal. That said, there's plenty to like: sector-leading core growth, true scale economies, an ironclad capital structure. Our conviction level would increase at a stock price of $58.00 or lower."
For an analyst ratings summary and ratings history on Equity Residential click here. For more ratings news on Equity Residential click here.
Shares of Equity Residential closed at $59.30 yesterday.
Cantor analyst said, "Like Alice (in Wonderland), Equity Residential has struggled with its scale perception -- expanding in the 2000s to become the largest multifamily REIT, then shrinking in recent years in order to hone its sprawling footprint. Now, bigger is back, as the company attempts to help itself to a $1.3 billion slice of Archstone. Although armed with copious amounts of capital, we hesitate to get in front of a potentially pricey mega-deal. That said, there's plenty to like: sector-leading core growth, true scale economies, an ironclad capital structure. Our conviction level would increase at a stock price of $58.00 or lower."
For an analyst ratings summary and ratings history on Equity Residential click here. For more ratings news on Equity Residential click here.
Shares of Equity Residential closed at $59.30 yesterday.
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