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UPDATE: Jefferies Downgrades Equity Residential to Hold on Slowdown in Fundamentals

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Jefferies downgraded Equity Residential (NYSE: EQR) from Buy to Hold and lowered the price target from $64.00 to $58.00.

Jefferies said, "We still believe that the ongoing portfolio transformation at EQR will lead to higher multiples, but a meaningful slowdown in coastal market fundamentals appears to be occurring at the same time that EQR is increasing exposure to these markets. We therefore downgrade EQR to a Hold rating."

Equity Residential closed at $54.46 on Monday.

Latest Ratings for EQR

DateFirmActionFromTo
Nov 2014BarclaysMaintainsOverweight
Nov 2014Credit SuisseInitiates Coverage onNeutral
Oct 2014CitigroupMaintainsNeutral

View More Analyst Ratings for EQR
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Analyst Ratings

 

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