UPDATE: Jefferies Downgrades Equity Residential to Hold on Slowdown in Fundamentals
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
|Feb 2016||Deutsche Bank||Maintains||Hold|
|Feb 2016||Mizuho Securities||Downgrades||Buy||Neutral|
|Jan 2016||JMP Securities||Downgrades||Market Outperform||Market Perform|
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