Equity Residential (EQR) Earnings Call Presentation

Financial Performance and Outlook - Equity Residential expects to deliver 2024 Same Store revenue, NOI and Normalized FFO results towards the higher end of existing guidance ranges[8] - The company's 2024 embedded growth is 1.4%, in line with pre-pandemic norms[12] - The company's strategic focus is on maintaining a strong and flexible balance sheet[98] - The company distributed over $1 billion in dividends annually[26, 51] Portfolio and Market Strategy - Established Markets represent approximately 95% of the company's NOI[11, 67, 87] - San Francisco accounts for 15% of NOI, while Seattle accounts for 11%[14, 16] - The company arbitraged disposition of $433 million in assets at a 5.6% Disposition Yield[91] - The company repurchased ~$88 million of stock at a $57.72 average price per share[91] Operational Efficiency and Innovation - Innovation initiatives are expected to add approximately $10 million to Other Income and reduce expenses in 2024[12] - The company targets $70 million in value creation through service transformation/innovation[96] - The company targets $45 million in value creation through alternative revenue sources[96] - The company targets $35 million in value creation through sales and customer experience[96]