Equity Residential (EQR) NewsBite - EQR Upgraded By Fox Pitt

Posted: Wednesday, September 02, 2009 1:31 PM EDT

Equity Residential (EQR) was upgraded today by analysts at Fox Pitt and the stock is now at $26.26, up $0.14 (0.54%) on volume of 2,260,124 shares traded. The brokerage upped EQR to Outperform from Market Perform. Over the last 52 weeks the stock has ranged from a low of $15.68 to a high of $49.00. Equity Residential stock has been showing support around $25.10 and resistance in the $28.02 range. Technical indicators for the stock are bearish and S&P gives EQR a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on EQR the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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