Equity Residential (EQR) is slated to report third-quarter 2024 results after the closing bell on Oct. 30. The company’s quarterly results are likely to reflect growth in revenues and funds from operations (FFO) per share.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, this Chicago, IL-based residential real estate investment trust (REIT) came up with a positive surprise of 1.04% in terms of normalized FFO per share. Results reflected decent same-store ...

Equity Residential (EQR) is likely to benefit from its high-quality, diversified portfolio targeting affluent renters. The strategic portfolio repositioning and technological enhancements are likely to aid the company. However, the elevated supply of residential rental units in some of its markets is a concern.In September 2024, EQR reported that it witnessed healthy demand and pricing for its apartment units during the primary leasing season. The company reiterated its earlier guidance of blended rate grow ...

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MAA; CPT, AVB, ESS, EQR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. While this article may sound like financial advice, please observe that the author is not a CFA or in any way licensed to g ...

Shares of Equity Residential (EQR) have risen 20.8% year to date, outperforming the industry's growth of 12.3%.In September 2024, EQR reported that it witnessed healthy demand and pricing for its apartment units during its primary leasing season. The company reiterated its earlier guidance of blended rate growth between 2% and 3% for the third quarter of 2024 and a physical occupancy level of 96.2% for the full-year 2024. It added that its same-store revenue growth will be able to meet its previous guided r ...

Equity Residential (EQR) is likely to benefit from its high-quality, diversified portfolio targeting affluent renters. The strategic portfolio repositioning and technological enhancements are likely to aid the company. However, the elevated supply of residential rental units in some markets and high interest rates are concerns.Last July, this residential real estate investment trust (REIT) reported its second-quarter 2024 normalized funds from operations (FFO) per share of 97 cents, which surpassed the Zack ...

Volodymyr Kyrylyuk/iStock via Getty Images Equity Residential (NYSE:EQR) is a residential REIT which focuses on what some people might consider a niche market within apartment sector. The company owns and manages a number of apartment buildings in cities that are considered "highly dynamic" and "highly desirable" by highly-educated younger population such as Boston, San Diego, Seattle and Denver. The company specifically invests in cities that fit its very specific criteria. The city has to have a high ...

Shares of Equity Residential (EQR) have rallied 16.5% year to date, outperforming the industry's growth of 9.3%.This residential REIT boasts a portfolio of high-quality apartment units in some of the key markets of the United States that have an affluent tenant base. Healthy demand for rental units in its markets, portfolio diversification efforts, technology initiatives and a decent financial position bode well for its revenue growth.Later in July 2024, EQR reported second-quarter 2024 normalized funds fro ...

Equity Residential(EQR) recently announced that it has entered into an arrangement with The Blackstone Group (BX) to buy 11 apartment properties from Blackstone Real Estate strategies in separate transactions, including Blackstone Real Estate Income Trust, Blackstone Real Estate Partners and Blackstone Property Partners, for $964 million. Subject to customary closing conditions, the transaction is expected to conclude in the third quarter of 2024.With the properties being located in Equity Residential’s exp ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, the task of finding cutting-edge growth stocks i ...

Financial Performance - Net income attributable to common shares for the six months ended June 30, 2024, was $470,924 thousand, compared to $349,693 thousand for the same period in 2023, marking an increase of approximately 34.6%[24] - Earnings per share (EPS) for the six months ended June 30, 2024, was $1.24, up from $0.92 in the same period of 2023, indicating a growth of approximately 34.78%[24] - Comprehensive income for the six months ended June 30, 2024, was $489,797 thousand, compared to $371,188 thousand for the same period in 2023, representing an increase of approximately 32.0%[26] - Net income for the six months ended June 30, 2024, was $488,587, compared to $364,933 in 2023, representing a 33.9% increase[29] - Net income attributable to controlling interests for the six months ended June 30, 2024, was $473,270,000, up from $351,238,000 in 2023, representing a 35% increase[39] - The Company reported a net income of $488,587,000 for the six months ended June 30, 2024, compared to $364,933,000 for the same period in 2023, representing a 33.9% increase[136] Revenue and Income Sources - Rental income for the six months ended June 30, 2024, increased to $1,464,981 thousand, up from $1,422,397 thousand in the same period of 2023, reflecting a growth of about 2.98%[24] - The company reported a net gain on sales of real estate properties of $227,994 thousand for the six months ended June 30, 2024, compared to $100,122 thousand in the same period of 2023, reflecting a significant increase of approximately 127.5%[24] - Total lease revenue for the six months ended June 30, 2024, was $1,400,453 thousand, an increase from $1,360,948 thousand for the same period in 2023, reflecting a growth of approximately 2.9%[98] - Same store rental income increased by 3.5% year-over-year, reaching $1.43 billion for the six months ended June 30, 2024[162] Assets and Liabilities - Total assets decreased to $19,779,568 thousand as of June 30, 2024, from $20,034,564 thousand as of December 31, 2023, representing a decline of approximately 1.27%[22] - Total liabilities decreased to $8,272,303 thousand as of June 30, 2024, from $8,456,188 thousand as of December 31, 2023, a reduction of about 2.18%[22] - The company’s investment in real estate, net, was $18,634,037 thousand as of June 30, 2024, down from $18,902,301 thousand as of December 31, 2023, a decrease of approximately 1.42%[22] - Cash and cash equivalents decreased to $38,298 thousand as of June 30, 2024, from $50,743 thousand as of December 31, 2023, a decline of about 24.5%[22] Cash Flow and Financing - Net cash provided by operating activities increased to $817,968 in 2024 from $745,980 in 2023, reflecting a growth of 9.6%[29] - The company reported a net cash used for financing activities of $(817,185) in 2024, compared to $(487,231) in 2023, indicating an increase in cash outflow[31] - The Company had approximately $2.3 billion in readily available liquidity as of June 30, 2024, positioning it well to meet future obligations[181] - The Company had total mortgage notes payable of $1,634,838,000 as of June 30, 2024, with a weighted average interest rate of 3.86%[105][106] Investments and Acquisitions - During the six months ended June 30, 2024, the company acquired rental properties for a total purchase price of $62,595 thousand, including 160 apartment units[85] - The company disposed of 5 rental properties for a sales price of $334,000 thousand, resulting in a net gain of $227,994 thousand[87] - The Company has invested approximately $40.5 million in ten separate real estate technology and other fund investments, with remaining commitments of about $17.5 million as of June 30, 2024[125] Shareholder Returns and Distributions - Distributions declared per common share increased from $1.325 to $1.35 for the quarter ended June 30, 2024[36] - The Company declared a dividend of $0.675 per share/unit for Q1 and Q2 2024, representing a 2.0% annualized increase over 2023[190] - Total dividends paid in July 2024 amounted to $263.7 million, excluding distributions on Partially Owned Properties[191] Operational Metrics - Total expenses for the six months ended June 30, 2024, were $1,029,039, compared to $1,006,470 in 2023, reflecting a 2.2% increase[43] - The total net operating income (NOI) for the six months ended June 30, 2024, was $989,355,000, up from $950,298,000 in 2023, indicating a growth of 4.1%[136] - Same store NOI for Southern California increased to $254,346,000 in 2024 from $240,604,000 in 2023, reflecting a 5.7% rise[136] Market and Economic Conditions - The Company expects continued demand across its markets, supported by a solid job market and high employment for its target demographic[178] - The Company does not anticipate that the outcome of the ongoing legal matters will have a material adverse effect on its financial condition[131] Legal and Regulatory Matters - The Company is involved in ongoing legal proceedings related to antitrust violations, with motions to dismiss denied, but believes the lawsuits are without merit[130] - The Company has elected taxable REIT subsidiary status for certain corporate subsidiaries, which will incur federal and state income taxes on taxable income[65] Accounting and Compliance - The Company’s critical accounting policies and estimates have not changed materially from the previous year[196] - Market risk has not changed materially from the previous reporting period[202]