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Equity Residential (EQR)
NYSE:EQR
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Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.41Last Year’s EPS
$0.82Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -2.34%
|Next Earnings Date:Feb 04, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong operational performance, successful acquisitions, and innovation in operations. However, challenges in expansion markets and specific issues in Los Angeles were notable concerns. Despite these challenges, the overall sentiment leans positive due to strong positioning in core markets and strategic acquisitions.Company Guidance
During the third quarter 2024 earnings call for Equity Residential, the company provided guidance on several key metrics. They maintained a stable same-store revenue guidance for the year, expecting to end 2024 in a favorable position for 2025. The same-store expense growth was reported at 3.2% for the quarter, and the company anticipates a full-year same-store expense growth of 3%. On the acquisitions front, they are funding $1.6 billion in acquisitions with a blend of fixed-rate debt, dispositions, and commercial paper. Notably, they issued 10-year notes at a 4.65% coupon rate, the lowest in the REIT space since 2022. Looking ahead, the company foresees solid same-store revenue results in 2025, driven by steady demand, a favorable supply environment in established markets, and continued cost control efforts.Strong Operating Performance
Recorded the lowest reported third quarter resident turnover in history and strong physical occupancy of 96.1%.
Successful Acquisitions
Closed on 14 assets with over 4,400 units at a total price of $1.26 billion, primarily in expansion markets like Atlanta, Dallas, and Denver.
Favorable Debt Issuance
Raised $600 million in fixed-rate debt at a coupon of 4.65%, the lowest 10-year coupon issued in the REIT space since 2022.
Strong Market Position in East Coast
Boston, New York, and Washington D.C. continue to perform well with strong demand and occupancy rates over 96%.
AI Innovation in Operations
Implemented an AI resident inquiry application that handled almost 60% of inquiries in the test market, with expectations to reach 75-80% coverage.
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EQR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EQR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $73.95 | $70.37 | -4.84% |
| Jul 29, 2024 | $70.67 | $68.96 | -2.42% |
| Apr 23, 2024 | $61.93 | $63.42 | +2.41% |
| Jan 30, 2024 | $57.59 | $58.46 | +1.51% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Equity Residential (EQR) report earnings?
Equity Residential (EQR) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is Equity Residential (EQR) earnings time?
Equity Residential (EQR) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EQR EPS forecast?
EQR EPS forecast for the fiscal quarter 2024 (Q4) is $0.41.
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