Analyst Praises REIT's Potential Amid Economic Turmoil

EQR faces plenty of resistance on the charts, however

Deputy Editor
Jun 22, 2022 at 11:00 AM
facebook X logo linkedin


Equity Residential (NYSE:EQR) received an upgrade from RBC this morning, with the firm raising the real estate investment trust (REIT) to "outperform" from "sector perform," though it also slashed its price target to $79 from $95. The analyst in coverage said that "EQR's focus on affluent renters positions the company relatively well to weather a potential downturn." The security was up 1.1% to trade at $72.07 at last glance. 

On the charts, the stock has been bouncing off its recent June 16, one-year low of $67.48. Several short- and long-term moving averages linger above as potential resistance, along with pressure from the $78 level, which first rejected the stock in late May. Plus, the $73 level could very well be emerging as resistance as well. 

It's also worth noting that EQR could be a potential premium-selling candidate after its ex-dividend on Thursday, June 24. The equity's Schaeffer's Volatility Scorecard (SVS) of 18 out of 100 shows that it has consistently realized lower volatility than its options have priced in. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI