A Bank of America analyst has changed his initial ratings on five real estate investment trusts: three are healthcare REITs and two are residential REITs.
Mizuho has decided to maintain its Buy rating of Equity Residential (NYSE:EQR) and lower its price target from $77.00 to $66.00.
Shares of Equity Residential are trading up 6.72% over the last 24 hours, at $63.69 per share.
A move to $66.00 would account for a 3.63% increase from the current share price.
Less-than-expected funds from operations (FFO) in the third quarter led to a new 2022 low for Centerspace (NYSE: CSR), a small New York Stock Exchange real estate investment trust (REIT).