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Truist Financial Sticks to Its Buy Rating for Equity Residential (EQR)

Tipranks - Tipranks - Tue Jun 23, 9:38PM CDT

In a report released yesterday, Michael Lewis from Truist Financial maintained a Buy rating on Equity Residential, with a price target of $72.00.

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According to TipRanks, Lewis is a 5-star analyst with an average return of 9.0% and a 62.32% success rate. Lewis covers the Real Estate sector, focusing on stocks such as AvalonBay, Cubesmart, and Extra Space Storage.

In addition to Truist Financial, Equity Residential also received a Buy from Bank of America Securities’s Jana Galan in a report issued on June 8. However, on June 10, Mizuho Securities maintained a Hold rating on Equity Residential (NYSE: EQR).

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Based on Equity Residential’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $779.85 million and a net profit of $90.08 million. In comparison, last year the company earned a revenue of $760.81 million and had a net profit of $256.59 million

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