Equity Residential (EQR) is experiencing higher demand for its rental apartments, aiding in higher occupancy and rising rental rates.
Equity Residential (EQR) is set to buy properties from Blackstone worth $1 billion in its expansion markets.
Equity Residential (EQR) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Equity Residential (NYSE:EQR ) Q2 2024 Earnings Conference Call July 30, 2024 11:00 AM ET Company Participants Marty McKenna - Vice President, Investor Relations Mark Parrell - President & Chief Executive Officer Michael Manelis - Executive Vice President & Chief Operating Officer Robert Garechana - Executive Vice President & Chief Financial Officer Alexander Brackenridge - Executive Vice President and Chief Investment Officer Conference Call Participants Eric Wolfe - Citi Steve Sakwa - Evercore ISI Adam Kramer - Morgan Stanley Josh Dennerlein - Bank of America Anthony Paolone - JPMorgan Michael Goldsmith - UBS Nicholas Yulico - Scotiabank John Kim - BMO Capital Markets James Feldman - Wells Fargo Haendel St. Juste - Mizuho Alexander Goldfarb - Piper Sandler Operator Good day, and welcome to the Equity Residential Second Quarter 2024 Earnings Conference Call and Webcast. Today's conference is being recorded.
Equity Residential's (EQR) Q2 FFO tops estimates. Results reflect strong demand and expense efficiency.
The headline numbers for Equity Residential (EQR) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Equity Residential (EQR) came out with quarterly funds from operations (FFO) of $0.97 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to FFO of $0.94 per share a year ago.
Equity Residential's (EQR) Q2 results are likely to benefit from its portfolio diversification efforts and technology investments amid healthy demand, though high supply is likely to have partly dampened the positives.
Beyond analysts' top -and-bottom-line estimates for Equity Residential (EQR), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
Equity Residential's (EQR) portfolio diversification efforts, technology initiatives and decent financial position bode well for growth despite higher deliveries and elevated interest rates.
Healthy demand for rental units in its markets is likely to aid Equity Residential (EQR). Portfolio diversification efforts, technology initiatives to drive margins and a decent financial position bode well.
Due to the current high interest rate environment, most real estate stocks are trading below or at fair value. Moreover, there has been a lot of fear about the real estate market over the past couple of years.