Equity Analyst

Morningstar provides independent investment research to investors worldwide. It offers internet, software, and print-based products for individuals, financial advisors, and institutions. It also supplies asset-management services to advisors, institutions, and retirement-plan participants.

Our Equity Research team requires an experienced equity analyst to cover financials stocks, primarily focusing on a select group of REITs and commercial real estate services firms. Performing fundamental analysis within our well-defined research framework, the analyst will write research reports and determine fair value estimates on a select group of stocks. He or she will also be accountable for pitching investment ideas internally and externally in accordance with Morningstar’s methodology. This position is based in our Chicago office.

* Research, analyze, and estimate fair values for about 20 REITs and commercial real estate services companies. * Build detailed discounted cash flow models for each covered firm, focusing on the key drivers of the business and incorporating scenario analysis. * Regularly publish reports and in-depth research pieces, including the qualitative and quantitative analyses of your coverage’s Economic Moats. * Develop relationships with coverage companies and industry participants to enhance research and build brand. * Show a constant interest in pushing Morningstar’s research methodology and business forward. * Proactively surface attractive investment ideas internally and externally to support all products and clients. * Coordinate with global sector teams regarding content, methodology, etc. * Act with independence and an ‘investors first’ attitude at all times.

* Bachelor’s degree; a CFA designation and/or MBA is preferred. * Three to five years of experience in sell side or buy side equity research (or investment banking); real estate sector or relevant expertise preferred. * Ability to make decisions under tight deadlines, at times with incomplete information. * Possess independence, critical thinking skills, and a passion for investing, with a bias toward long-term fundamental research and investing. * Sound financial modeling skills and knowledge of business valuation techniques. * Work well within a team and be capable of respectfully accepting and providing constructive feedback. Please submit a resume and cover letter with your application materials.