Equity Residential (EQR) Q2 FFO Beats Estimates, '24 View Raised

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%, ...