Equity Residential (EQR) Q1 FFO Tops on Solid Demand, Cost Focus [Yahoo! Finance]
Equity Residential Common Shares of Beneficial Interest (EQR)
Last equity residential common shares of beneficial interest earnings: 1/28 04:16 pm
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Source: Yahoo! Finance
funds from operations (FFO) per share of 93 cents, which surpassed the Zacks Consensus Estimate of 91 cents. The rental income of $730.8 million also beat the consensus mark of $729.8 million. Results reflect decent same-store performances, backed by healthy demand, modest supply and a focus on expense efficiency. The company also experienced the lowest quarterly same-store turnover in its history. On a year-over-year basis, the normalized FFO per share grew 6.9% from 87 cents, with rental income climbing 3.6%. According to Mark J. Parrell, Equity Residential's president and CEO, “The positive demand dynamics in our affluent renter demographic, limited new apartment supply in our existing predominantly coastal markets and our laser focus on expense management continue to produce good results.” Quarter in Detail Same-store revenues were up 4.1% year over year, driven by healthy demand and modest supply across most of the company's markets. Same-store expenses rose 1.3%, with
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News
- 4 REITs With New Price Target Increases [Yahoo! Finance]Yahoo! Finance
- Equity Residential (NYSE: EQR) had its "neutral" rating re-affirmed by analysts at Wedbush. They now have a $68.00 price target on the stock.MarketBeat
- Equity Residential (NYSE: EQR) had its price target raised by analysts at Piper Sandler from $62.00 to $70.00. They now have a "neutral" rating on the stock.MarketBeat
- Equity Residential (NYSE:EQR) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Equity Residential (NYSE: EQR) had its price target raised by analysts at Evercore ISI from $67.00 to $70.00. They now have an "outperform" rating on the stock.MarketBeat
EQR
Earnings
- 4/23/24 - Miss
EQR
Sec Filings
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- 4/26/24 - Form 144
- EQR's page on the SEC website