Core Insights - Equity Residential (EQR) reported revenue of $734.16 million for the quarter ended June 2024, reflecting a 2.4% increase year-over-year, with EPS at $0.97 compared to $0.37 in the same quarter last year [1] - The reported revenue was in line with the Zacks Consensus Estimate of $734.14 million, while the EPS exceeded the consensus estimate of $0.96 by 1.04% [1] Financial Performance Metrics - Physical Occupancy Rate stood at 96.4%, slightly above the average estimate of 96.3% from four analysts [2] - Total Apartment Units were reported at 79,738, compared to the average estimate of 79,872 from three analysts [2] - Change in Same Store Revenue Growth was 2.9%, below the average estimate of 3.1% from two analysts [2] - Rental income from Same Store was $718.17 million, surpassing the estimated $717.17 million by two analysts, representing a 3% increase year-over-year [2] - Net Earnings Per Share (Diluted) was reported at $0.47, exceeding the average estimate of $0.39 from nine analysts [2] Stock Performance - Equity Residential shares have returned +2.1% over the past month, outperforming the Zacks S&P 500 composite, which saw a -0.2% change [2] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [2]

Equity Residential (EQR) came out with quarterly funds from operations (FFO) of $0.97 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to FFO of $0.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 1.04%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.91 per share when it actually produced FFO of $0.93, delivering a surprise of 2.20%.Over the last four qu ...

를 Equity Residential Second Quarter 2024 Second Quarter 2024 Results Table of Contents | Earnings Release | 1 - 5 | | --- | --- | | Consolidated Statements of Operations | 6 | | Consolidated Statements of Funds From Operations and Normalized | | | Funds From Operations | 7 | | Consolidated Balance Sheets | 8 | | Portfolio Summary | 9 | | Portfolio Rollforward | 10 | | Same Store Results | 11 - 18 | | Debt Summary | 19 - 21 | | Capital Structure | 22 | | Common Share and Unit Weighted Average Amounts Outstan ...

Equity Residential (EQR) is slated to report second-quarter 2024 results after the closing bell on Jul 29. The company’s quarterly results are likely to reflect growth in revenues and funds from operations (FFO) per share.In the last reported quarter, this Chicago, IL-based residential real estate investment trust (REIT) came up with a positive surprise of 2.20% in terms of normalized FFO per share. Results reflected decent same-store performances, backed by healthy demand, modest supply and a focus on expe ...

Wall Street analysts expect Equity Residential (EQR) to post quarterly earnings of $0.96 per share in its upcoming report, which indicates a year-over-year increase of 2.1%. Revenues are expected to be $734.14 million, up 2.4% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its earnings, it ...

Equity Residential (EQR) is well-positioned to benefit from its portfolio of high-quality apartment units in some of the key markets of the United States that have an affluent tenant base. Its diversification efforts in suburban locations and technological enhancements also augur well, while a decent financial position makes the dividend distribution sustainable. However, the elevated supply of rental units and high interest rates are concerning.What’s Aiding EQR? EQR is particularly targeting places where ...

Core Viewpoint - Equity Residential (EQR) is considered a solid investment opportunity due to its strong fundamentals, including an A-rating, over 4.1% yield, and low debt levels, despite current market challenges [2][3][4]. Company Overview - EQR is a multifamily REIT that focuses on attractive residential properties and is currently undervalued compared to historical metrics [4]. - The company benefits from a strong demand for rental housing amid an overall undersupply in the market [4]. Financial Performance and Guidance - EQR expects to deliver higher-end guidance for 2024, with a growth estimate of 3-5% driven by sustained high demand and pricing recovery in key markets [4][7]. - The company’s physical occupancy rate is trending upwards, exceeding 96.2% as of May [6]. Market Trends - The West Coast markets, including cities like Seattle and San Francisco, are showing signs of recovery, with improved leasing rates and significant investments in infrastructure [6][8]. - EQR's portfolio consists of nearly 80,000 apartment units across 12 markets, catering primarily to affluent renters who are better positioned to handle inflationary pressures [8][9]. Valuation and Investment Considerations - EQR is currently trading at a P/FFO of 16.8, which is below its typical 5-year average of 20-22x, indicating potential for upside [11][22]. - The company is projected to have an annual return of around 11-12%, with a price target of approximately $77 per share, reflecting a 10-12% annualized upside [12][14]. Competitive Position - While EQR is a strong investment, comparisons with other REITs like Mid-America Apartment Communities (MAA) suggest that MAA may present a better opportunity due to higher current yield and lower debt [12][14].

Equity Residential (EQR) expects its 2024 same-store revenues, net operating income (NOI) and normalized funds from operations (FFO) per share results toward the higher end of its existing guidance ranges.This latest projection comes with the residential REIT experiencing sustained high demand across its market, which is pushing physical occupancy above expectations. Also, strong pricing power in its East Coast markets and continued recovery in its West Coast markets are tailwinds.Equity Residential noted t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR Commission File Number: 1-12252 (Equity Residential) Commission File Number: 0-24920 (ERP Operating Limited Partnership) EQUITY RESIDENTIAL ERP OPERATING LIMITED PARTNERSHIP (Exact name of registrant as specified in its charter) Maryland (Equity Residential) 13-3675988 (Eq ...

Orbon Alija/E+ via Getty Images Introduction One of the salient features of REITs is that profits and prices often move in cycles. And there are two cycles worth considering. First, there is the space market cycle, which describes the supply and demand forces for a particular type of space. In the case of Equity Residential (NYSE:EQR), the type of space would be residential apartments that cater to the affluent worker segment in predominantly the coastal markets. A space market review for EQR might cons ...