Equity Residential Reports First Quarter 2024 Results

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Equity Residential (EQR) PT Raised to $70 at Evercore ISI

April 24, 2024 4:15 PM EDT

Evercore ISI analyst Steve Sakwa raised the price target on Equity Residential (NYSE: EQR) to $70.00 (from $67.00) while maintaining a Outperform rating.

THe analyst comments "As mentioned in our initial take last night (here), EQR reported Q1 normalized FFO of $0.93 which came in above our est ($0.90) and consensus ($0.91) on stronger NOI driven by lower expense growth along with a modest improvement in non resi revenue growth... More