Equity Residential
EQR
ISIN US29476L1070 / Valor 89245
Equity Residential
UMushroom community rating:
About company
Equity Residential is a real estate company focused on acquiring, developing, and managing residential properties in major cities known for attracting affluent long-term renters. With a portfolio of 302 properties and over 80,000 apartment units, the company has a strong presence in cities like Boston, New York, and San Francisco, as well as an expanding footprint in cities like Denver and Atlanta. Equity Residential aims to create thriving communities for its residents while building value for its shareholders through a combination of national resources and local expertise. The company's shares are traded on the New York Stock Exchange under the symbol EQR.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (17.12.2024):
Earnings Per Share
In the third quarter of 2024, Equity Residential reported earnings per share (EPS) of $0.38, a decrease of 15.6% compared to $0.45 in the same quarter of 2023. This decline was primarily attributed to lower property sale gains and higher depreciation expenses.
Funds from Operations
Equity Residential's Funds from Operations (FFO) per share for the third quarter of 2024 increased by 3.1% to $0.99, compared to $0.96 in the third quarter of 2023. The increase was driven by improved same store net operating income and other positive adjustments.
Same Store Revenue
For the third quarter of 2024, Equity Residential experienced a 2.7% increase in same store revenue compared to the same period in 2023. This growth was supported by strong demand and limited supply across most of the company's markets.
Investment Activity
During the third quarter of 2024, Equity Residential acquired 14 properties with a total of 4,418 apartment units for approximately $1.26 billion. These acquisitions were primarily in the expansion markets of Atlanta, Dallas/Ft. Worth, and Denver.
Capital Markets Activity
In September 2024, Equity Residential issued $600 million of unsecured 10-year notes at a coupon rate of 4.65%, marking the lowest 10-year coupon rate issued by a REIT since 2022. The proceeds were used to fund acquisition activities during the quarter.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
27459 M
Market cap (USD)
306,312
Daily traded volume (Shares)
72.55 / 71.8
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
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