Short Squeeze Candidates: Equity Residential (EQR)
Click to Enlarge The REIT market continues to heat up as investors are looking for less volatile income alternatives. Despite the technical strength and fundamental story, the bears remain defiant on names like Equity Residential (EQR).
The company’s short interest ratio is registering its highest readings since 2012, so the next move to $63 will put the short sellers on the run to cover their positions as buyers.
We expect the short squeeze to help move EQR toward $66 and higher over the short-term outlook.
As of this writing, Johnson Research Group did not hold a position in any of the aforementioned securities.