U.S. asking rents post biggest increase in over a year: Redfin [Seeking Alpha]
Equity Residential Common Shares of Beneficial Interest (EQR)
Last equity residential common shares of beneficial interest earnings: 1/28 04:16 pm
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Source: Seeking Alpha
in a Monday report, as elevated mortgage rates continued to turn would-be buyers into renters. The median asking rent advanced 2.2% from a year ago to $1,981, the largest gain since January 2023. It's still 3.5% below the August 2022 record high, but 24.3% higher than it was in February 2020, a month before the coronavirus was declared a pandemic. “Mortgage rates ticked back up in February—a disappointing development for prospective homebuyers, who just a few months ago got a glimmer of hope as rates finally started to fall,” said Redfin Chief Economist Daryl Fairweather. “With rates still elevated, many are opting to continue renting, which is buoying rental demand, and as a result, rent prices.” But, with the expectations that the Federal Reserve will cut interest rates later this year, more renters could, as a result, turn more renters into buyers and drive down asking rents. By region, Redfin ( RDFN ) noted that the Northeast and Midwest led the U.S. in rent increases last
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News
- 4 REITs With New Price Target Increases [Yahoo! Finance]Yahoo! Finance
- Equity Residential (NYSE: EQR) had its "neutral" rating re-affirmed by analysts at Wedbush. They now have a $68.00 price target on the stock.MarketBeat
- Equity Residential (NYSE: EQR) had its price target raised by analysts at Piper Sandler from $62.00 to $70.00. They now have a "neutral" rating on the stock.MarketBeat
- Equity Residential (NYSE:EQR) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Equity Residential (NYSE: EQR) had its price target raised by analysts at Evercore ISI from $67.00 to $70.00. They now have an "outperform" rating on the stock.MarketBeat
EQR
Earnings
- 4/23/24 - Miss
EQR
Sec Filings
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- 4/26/24 - Form 144
- EQR's page on the SEC website