Equity Residential (EQR) Q1 FFO Tops on Solid Demand, Cost Focus

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 ...