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Coastal REIT Could Have You Swimming in Profits

Equity Residential's chart is lighting up with bullish signals


Equity Residential (EQR) — This real estate investment trust (REIT) engages in the acquisition, development and management of multifamily properties in the United States. It properties are largely in coastal markets, which S&P says have “better recovery prospects and higher barriers to entry.” And it considers its Q1 occupancy rate of 95.9% to be in the upper end of peer averages. Last week, it analysts raised their 12-month price target by $8 to $68.

In late April, Equity Residential reported funds from operation (FFO) for the first quarter of 2014 of $0.71 per share compared to $0.64 per share in the same period of 2013.

Technically, EQR broke from a broad one-year cup after accumulating high buying volume since November. It flashed a golden cross (50-day moving average crosses up through 200-day) on Feb. 28, a very bullish indication. The MACD indicator is in the bullish zone.

My trading target is $70, but long-term investors could see much higher returns. EQR has a current dividend yield of 3.3%.

EQR Stock
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