2024-02-06 05:27:51 ET
Summary
- Apartment REIT, Equity Residential, wrapped up their 2023 fiscal year with stable occupancy and solid strength in key operating markets.
- The New York market remains a highlight due to its favorable supply backdrop and positive demand drivers.
- Despite better-than-feared results and guidance, shares have declined about 5% since results were reported.
- I remain neutral on shares of EQR due to improvement that is necessary and yet to be materially realized in the REIT’s West Coast operating market.
Apartment REIT and S&P 500 component, Equity Residential (EQR), recently reported better than expected results for its Q4 reporting period ended December 31. The stock, however, has trended downwards in the last five days, down nearly 5%....
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Equity Residential: Further Improvement Necessary In West Coast Markets