J.P. Morgan Maintains Overweight on Equity Residential (EQR)

J.P. Morgan is out with its report today on Equity Residential EQR, maintaining Overweight. In a note to clients, J.P. Morgan writes, "We rate shares of EQR Overweight based on our positive view of apartment market fundamentals that should drive outsized NOI growth in the next few years. EQR is particularly well-positioned because of its portfolio geography (high weightings on the coasts), cost of capital, and operating platform." J.P. Morgan has a $56 PT on EQR. Shares of EQR closed Wednesday at $59.26, up 0.22% from Tuesday's close.