Equity Residential (NYSE:EQR) Q1 2024 Earnings Conference Call April 24, 2024 11:00 AM ET Company Participants Marty McKenna - IR and Public Relations Mark Parrell - President and CEO Michael Manelis - EVP and COO Alexander Brackenridge - EVP and CIO Robert Garechana - EVP and CFO Conference Call Participants Eric Wolfe - Citi John Pawlowski - Green Street Steve Sakwa - Evercore ISI Josh Dennerlein - Bank of America Derrick Metzler - Morgan Stanley Michael Goldsmith - UBS Haendel St. Juste - Mizuho Jamie Fe ...

Shares of Equity Residential (EQR) witnessed a 1.3% gain in the after-hours trading session on Apr 23 after it reported first-quarter 2024 normalized funds from operations (FFO) per share of 93 cents, which surpassed the Zacks Consensus Estimate of 91 cents. The rental income of $730.8 million also beat the consensus mark of $729.8 million.Results reflect decent same-store performances, backed by healthy demand, modest supply and a focus on expense efficiency. The company also experienced the lowest quarter ...

Core Insights - Equity Residential (EQR) reported revenue of $730.82 million for Q1 2024, a year-over-year increase of 3.7% and an EPS of $0.93 compared to $0.56 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $729.83 million by 0.14%, while the EPS surpassed the consensus estimate of $0.91 by 2.20% [1] Financial Performance Metrics - Physical Occupancy Rate was 96.3%, higher than the estimated 95.9% [2] - Total Apartment Units stood at 79,688, slightly below the estimated 80,256 [2] - Same Store Revenue Growth increased by 4.1%, exceeding the two-analyst average estimate of 3% [2] - Rental income from Same Store was reported at $716.67 million, above the estimated $703.05 million, reflecting a year-over-year change of +5.1% [2] - Net Earnings Per Share (Diluted) was $0.77, significantly higher than the estimated $0.32 [2] Stock Performance - Shares of Equity Residential have returned +1.6% over the past month, contrasting with the Zacks S&P 500 composite's -4.2% change [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]

Equity Residential (EQR) came out with quarterly funds from operations (FFO) of $0.93 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to FFO of $0.87 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 2.20%. A quarter ago, it was expected that this real estate investment trust would post FFO of $1 per share when it actually produced FFO of $1, delivering no surprise.Over the last four quarters, the co ...

를 Equity Residential First Quarter 2024 Earnings Release & Supplemental Information Alexan Remy - Frisco, TX EQR + Toll Brothers Joint Development imated Completion: Q4 2024 GRESB Investor Relations Marty McKenna (312) 474-1300 investorrelations@eqr.com PENNER HAR First Quarter 2024 Results Table of Contents | Earnings Release | 1 - 4 | | --- | --- | | Consolidated Statements of Operations | 5 | | Consolidated Statements of Funds From Operations and Normalized | | | Funds From Operations | 6 | | Consolidate ...

Equity Residential (EQR) is slated to report first-quarter 2024 results after the closing bell on Apr 23. 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’s (REIT) normalized FFO per share of $1.00 was in line with the Zacks Consensus Estimate. Rental income of $727.5 million in the fourth quarter grew 4% and was almost in line with the consensus mar ...

Wall Street analysts expect Equity Residential (EQR) to post quarterly earnings of $0.91 per share in its upcoming report, which indicates a year-over-year increase of 4.6%. Revenues are expected to be $729.83 million, up 3.5% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone an upward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Pri ...

Equity Residential (EQR) owns a portfolio of high-quality apartment units in some of the key markets of the United States that have an affluent tenant base. The high costs of home ownership due to high interest rates are likely to keep renter demand up in its markets, benefiting the company. A focus on technology, scale and organizational capabilities to drive margin expansion and operational efficiency act as tailwinds. However, the elevated supply of rental units in some markets and high interest rates ma ...

CHICAGO--(BUSINESS WIRE)--Equity Residential (NYSE: EQR) today announced the appointment of Ann C. Hoff and Nina P. Jones to the Company’s Board of Trustees to serve until the next annual meeting of shareholders. Both Ms. Hoff and Ms. Jones qualify as independent trustees under the New York Stock Exchange’s listing standards. Ms. Hoff will serve on the Audit Committee and Ms. Jones will serve on both the Audit and Corporate Governance Committees. With these appointments, the Company’s Board will increase to ...

Equity Residential EQR has announced a 1.9% hike in its annualized dividend. As a result, for the first quarter of 2024, EQR will pay out 67.50 cents per share, up from 66.25 cents paid out in the prior quarter. The new dividend will be paid out on Apr 12 to the company’s shareholders of record as of Mar 25, 2024.Based on the hiked rate, the annualized dividend comes at $2.70 per share. At this new rate, the annualized yield is 4.33%, based on the stock’s closing price of $62.37 on Mar 14, 2024.The resident ...