Equity Residential (EQR) is well poised to gain from its high-quality, diversified portfolio in markets with an affluent tenant base. Healthy demand for rental units, strategic portfolio repositioning and technological enhancements are likely to aid the company.However, the elevated supply of residential rental units in some of its markets is a key concern. Also, high-interest expenses add to its woes.Over the past year, shares of this residential REIT, carrying a Zacks Rank #3 (Hold), have gained 15.7%, ou ...

Shares of Equity Residential (EQR) have risen 20.9% year to date, outperforming the industry's growth of 11.5%.Last October, EQR reported third-quarter 2024 normalized funds from operations (FFO) per share of 98 cents, in line with the Zacks Consensus Estimate. On a year-over-year basis, the normalized FFO per share grew 2.1%.Results reflected decent same-store performances, backed by healthy demand amid modest supply. The company revised its 2024 guidance.This residential real estate investment trust (REIT ...

Financial Performance - Net income for the quarter ended September 30, 2024, was $148,517 thousand, compared to $181,286 thousand for the same quarter in 2023, showing a decrease of about 18.1%[17] - Net income for the nine months ended September 30, 2024, was $637,104, compared to $546,219 for the same period in 2023, representing an increase of approximately 16.6%[21] - Comprehensive income for the nine months ended September 30, 2024, was $634,934 thousand, compared to $553,865 thousand for the same period in 2023, reflecting an increase of approximately 14.6%[18] - Net income attributable to controlling interests for the nine months ended September 30, 2024, was $616,716,000, compared to $523,746,000 for the same period in 2023, representing an increase of approximately 17.7%[25] - Net income available to Units – General Partner for the nine months ended September 30, 2024, was $614,014,000, compared to $521,428,000 for the same period in 2023, representing an increase of approximately 17.7%[39] - The total net operating income (NOI) for the nine months ended September 30, 2024, was $1.5 billion, compared to $1.4 billion for the same period in 2023, reflecting a year-over-year increase of approximately 3.8%[117] Revenue and Income Sources - Rental income for the quarter ended September 30, 2024, was $748,348 thousand, up from $724,067 thousand for the same quarter in 2023, representing an increase of about 3.3%[17] - Rental income for the nine months ended September 30, 2024, was $2,213,329 thousand, a 3.1% increase from $2,146,464 thousand for the same period in 2023[30] - Total lease revenue for the nine months ended September 30, 2024, was $2,115,266 thousand, compared to $2,052,647 thousand for the same period in 2023, reflecting an increase of approximately 3.1%[80] - Interest and other income for the nine months ended September 30, 2024, was $26,501 thousand, significantly higher than $11,296 thousand for the same period in 2023, representing a 134.3% increase[30] Assets and Liabilities - Total assets increased to $20,925,821 thousand as of September 30, 2024, compared to $20,034,564 thousand as of December 31, 2023, reflecting a growth of approximately 4.4%[15] - Total liabilities rose to $9,520,502 thousand as of September 30, 2024, compared to $8,456,188 thousand as of December 31, 2023, indicating an increase of approximately 12.6%[15] - Total shareholders' equity decreased to $10,853,975 thousand as of September 30, 2024, from $11,085,828 thousand as of December 31, 2023, a decrease of about 2.1%[16] - Cash and cash equivalents decreased to $28,610 thousand as of September 30, 2024, down from $50,743 thousand as of December 31, 2023, a decline of approximately 43.5%[15] Investments and Acquisitions - The company invested $1,320,592 in real estate acquisitions during the nine months ended September 30, 2024, compared to $324,497 in the same period of 2023, indicating a significant increase of approximately 307%[22] - The company acquired 15 rental properties for a total purchase price of $1,317,845 thousand, with $154,777 thousand allocated to land and $1,152,251 thousand to depreciable property[68] - The company disposed of 6 rental properties for a sales price of $365,500 thousand, resulting in a net gain of $227,829 thousand during the same period[69] Cash Flow and Financing Activities - Net cash provided by operating activities increased to $1,219,382 for the nine months ended September 30, 2024, from $1,188,524 in 2023, reflecting a growth of about 2.6%[21] - Net cash used for investing activities was $(1,363,616) for the nine months ended September 30, 2024, compared to $(468,355) in 2023, showing a decline in cash flow of about 191%[22] - Net cash provided by financing activities was $130,798 for the nine months ended September 30, 2024, a recovery from $(730,614) in the same period of 2023[22] Shareholder Information - Common shares balance at the end of the period increased to $3,794,000 from $3,797,000, with a net increase of 2,829 shares issued through the Employee Share Purchase Plan[25] - Common share distributions increased to $2.025 per share from $1.9875 per share, reflecting a growth of 1.9%[26] - The Company declared a dividend of $0.675 per share/unit for each quarter of 2024, representing a 2.0% annualized increase over 2023[167] Debt and Interest - The weighted average interest rate for the Company's debt was 3.85% as of September 30, 2024, with interest rate ranges from 0.10% to 5.25%[86] - The Company had total mortgage notes payable of $1,633,414 thousand as of September 30, 2024, with an estimated fair value of $1,556,724 thousand[97] - The Company has a $2.5 billion unsecured revolving credit facility maturing on October 26, 2027, with a weighted average interest rate of 6.14% for the nine months ended September 30, 2024[89] Market and Operational Insights - The company’s focus remains on acquiring and managing residential properties in dynamic cities, targeting affluent long-term renters[127] - The Company is currently evaluating the impact of the new segment reporting standards effective January 1, 2024, on its segment disclosures[51] - The Company’s primary business involves the management of multifamily residential properties, which accounted for less than 4.0% of total revenues from non-residential activities for the nine months ended September 30, 2024[114]

Equity Residential (NYSE:EQR) Q3 2024 Earnings Conference Call October 31, 2024 11:30 AM ET Company Participants Marty McKenna – Vice President, Investor Relations Mark Parrell – President and Chief Executive Officer Alex Brackenridge – Chief Investment Officer Michael Manelis – Chief Operating Officer Bob Garechana – Chief Financial Officer Conference Call Participants Eric Wolfe – Citi Steve Sakwa – Evercore ISI Haendel St. Juste – Mizuho Alexander Goldfarb – Piper Sandler John Pawlowski – Green Street Jo ...

Equity Residential (EQR) reported third-quarter 2024 normalized funds from operations (FFO) per share of 98 cents, in line with the Zacks Consensus Estimate. On a year-over-year basis, the normalized FFO per share grew 2.1%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results reflect decent same-store performances, backed by healthy demand amid modest supply. The company revised its 2024 guidance.The quarterly rental income of $748.3 million surpassed the Zacks Consensus Estimate ...

Q3 2024 Management Presentation OCTOBER 2024 ARBOUR SQUARE – WESTMINSTER, CO UNION AT CARROLLTON SQUARE APARTMENTS CARROLLTON, TX This presentation is complementary to the Company's conference call to discuss its Third Quarter 2024 earnings on October 31, 2024 and should be read in conjunction with the Company's earnings release dated October 30, 2024. See the Appendix on pages 11 through 17 for information about forward-looking statements, a glossary of defined terms and a related reconciliation of non-GAA ...

For the quarter ended September 2024, Equity Residential (EQR) reported revenue of $748.35 million, up 3.4% over the same period last year. EPS came in at $0.98, compared to $0.45 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $742.89 million, representing a surprise of +0.73%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.98. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Equity Residential (EQR) came out with quarterly funds from operations (FFO) of $0.98 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.96 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this real estate investment trust would post FFO of $0.96 per share when it actually produced FFO of $0.97, delivering a surprise of 1.04%.Over the last four quarters, the company has surpassed consensus FFO estimates two times.Equit ...

Sandy Springs, GA RI Sixes Ridg Holly Spring: Arbou Westminster, Union at Carrollton Square Carrollton, TX Station 92 - Woodstock, GA Trailwinds Grapevi Grapevine, TX 를 Equity Residential Third Quarter 2024 Earnings Release and Supplemental Information Ayla at Stonebriar Frisco, TX Milehouse - Denver, Q3 2024 Total Acquisitions of $1.26B 04W | --- | --- | --- | --- | --- | --- | --- | |-------------------------------|--------------------------|-----------|-------|-------|-------|-------| | | | | | | | | | V ...

Analysts on Wall Street project that Equity Residential (EQR) will announce quarterly earnings of $0.98 per share in its forthcoming report, representing an increase of 2.1% year over year. Revenues are projected to reach $742.89 million, increasing 2.6% from the same quarter last year. Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe. ...