Equity Residential (NYSE:EQR) Q2 2024 Earnings Conference Call July 30, 2024 11:00 AM ET Company Participants Marty McKenna - Vice President, Investor Relations Mark Parrell - President & Chief Executive Officer Michael Manelis - Executive Vice President & Chief Operating Officer Robert Garechana - Executive Vice President & Chief Financial Officer Alexander Brackenridge - Executive Vice President and Chief Investment Officer Conference Call Participants Eric Wolfe - Citi Steve Sakwa - Evercore ISI Adam Kra ...

Equity Residential (EQR) reported second-quarter 2024 normalized funds from operations (FFO) per share of 97 cents, which surpassed the Zacks Consensus Estimate of 96 cents. The quarterly rental income of $734.16 million also marginally beat the consensus mark of $734.14 million.Results reflect decent same-store performances, backed by healthy demand, modest supply and a focus on expense efficiency. The company also raised its 2024 guidance.On a year-over-year basis, the normalized FFO per share grew 3.2%, ...

For the quarter ended June 2024, Equity Residential (EQR) reported revenue of $734.16 million, up 2.4% over the same period last year. EPS came in at $0.97, compared to $0.37 in the year-ago quarter.The reported revenue represents no surprise over the Zacks Consensus Estimate of $734.14 million. With the consensus EPS estimate being $0.96, the EPS surprise was +1.04%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expect ...

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 ...

👍🏻 Equity Residential Second Quarter 2024 Earnings Release & Supplemental Information Featured Communities (top to bottom): Trailwinds Grapevine – Grapevine, TX Acquired: July 2024 Iris O4W – Atlanta, GA Acquired: July 2024 G R E S B Investor Relations Marty McKenna (312) 474-1300 investorrelations@eqr.com Second Quarter 2024 Results Table of Contents | --- | --- | |-----------------------------------------------------------------|---------| | Earnings Release | 1 - 5 | | Consolidated Statements of Operatio ...

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 ...

LawrenceSawyer/E+ via Getty Images This article was co-produced with Wolf Report As many know, Sam Zell was famously called the "grave dancer" for his strategy of profiting from distressed real estate, and he once cautioned: "He who dances closest to the graves always has to be careful he doesn't fall in." The billionaire investor passed away earlier this year, and he was well known to many REIT investors as he created three REITs, including Equity Residential (NYSE:EQR), Equity LifeStyle (ELS), and Equ ...

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 ...