- EQR is an apartment REIT than owns all or a portion of 397 apartment properties located in 12 states with 111,491 units.
- EQR is one of the best managed REITs and its portfolio is primarily Class A apartments in high barrier to entry markets.
- We are not recommending the purchase of the stock due to the elevated price at $66/sh., FFO multiple of 21X and low dividend yield of 3%.
- One of the most overpriced assets of all asset classes, stocks, bonds and alternatives, is Class A apartments and Class A urban hi-rises. Many are trading at 3%-4% cap rates.