Equity Residential Provides Operating Update
Equity Residential (NYSE: EQR) has provided an update on its same store operating trends. The company reports that its same store revenue growth remains within the guidance range outlined in its Q2 2024 earnings release. As the primary leasing season concludes, EQR is experiencing healthy demand and pricing for its apartment units. The company maintains its expectations for the third quarter of 2024, projecting a Blended Rate growth of 2.0% to 3.0%. For the full year 2024, EQR anticipates achieving a Physical Occupancy rate of 96.2%.
Equity Residential (NYSE: EQR) ha fornito un aggiornamento sulle tendenze operative delle sue proprietà. L'azienda riporta che la sua crescita dei ricavi delle stesse proprietà rimane all'interno dell'intervallo di previsione delineato nel rilascio degli utili del secondo trimestre del 2024. Conclusa la stagione principale di locazione, EQR sta vivendo una domanda e prezzi sani per i suoi appartamenti. L'azienda mantiene le sue aspettative per il terzo trimestre del 2024, prevedendo una crescita del tasso misto del 2,0% al 3,0%. Per l'intero anno 2024, EQR prevede di raggiungere un tasso di occupazione fisica del 96,2%.
Equity Residential (NYSE: EQR) ha proporcionado una actualización sobre las tendencias operativas de sus propiedades. La compañía informa que su crecimiento de ingresos en propiedades comparables se mantiene dentro del rango de orientación establecido en su informe de ganancias del segundo trimestre de 2024. A medida que concluye la temporada principal de alquiler, EQR está experimentando una demanda y precios saludables para sus unidades de apartamentos. La empresa mantiene sus expectativas para el tercer trimestre de 2024, proyectando un crecimiento de la tasa mixta del 2,0% al 3,0%. Para todo el año 2024, EQR anticipa alcanzar una tasa de ocupación física del 96,2%.
Equity Residential (NYSE: EQR)는 자사의 동일 매장 운영 동향에 대한 업데이트를 제공했습니다. 회사는 동일 매장 수익 성장이 2024년 2분기 실적 보고서에서 제시한 가이드라인 범위 내에 있다고 보고합니다. 주요 임대 시즌이 마무리되면서 EQR은 아파트 유닛에 대한 건강한 수요와 가격를 경험하고 있습니다. 회사는 2024년 3분기에 대한 기대를 유지하며, 혼합 요금 성장률이 2.0%에서 3.0%에 이를 것으로 예상하고 있습니다. 2024년 전체를 통틀어 EQR은 물리적 점유율 96.2%에 도달할 것으로 예상하고 있습니다.
Equity Residential (NYSE: EQR) a fourni une mise à jour sur ses tendances opérationnelles dans les mêmes propriétés. La société rapporte que sa croissance des revenus des mêmes propriétés reste dans la fourchette de prévisions décrite dans son rapport de résultats du deuxième trimestre 2024. Alors que la saison principale de location touche à sa fin, EQR connaît une demande et des prix robustes pour ses unités d'appartement. L'entreprise maintient ses attentes pour le troisième trimestre 2024, projetant une croissance moyenne des taux de 2,0 % à 3,0 %. Pour l'année entière 2024, EQR s'attend à atteindre un taux d'occupation physique de 96,2 %.
Equity Residential (NYSE: EQR) hat ein Update zu seinen Betriebszahlen in denselben Geschäften bereitgestellt. Das Unternehmen berichtet, dass sein Umsatzwachstum in denselben Geschäften weiterhin im Rahmen der im Q2 2024 Ergebnisbericht festgelegten Erwartungen liegt. Mit dem Abschluss der Hauptmietzeit verzeichnet EQR eine gesunde Nachfrage und Preisentwicklung für seine Wohnanlagen. Das Unternehmen hält an seinen Erwartungen für das dritte Quartal 2024 fest und rechnet mit einem Wachstum des gemischten Satzes von 2,0% bis 3,0%. Für das gesamte Jahr 2024 geht EQR davon aus, eine physische Belegungsquote von 96,2% zu erreichen.
- Same store revenue growth aligns with previous guidance
- Healthy demand and pricing for apartment units
- Projected Blended Rate growth of 2.0% to 3.0% for Q3 2024
- Anticipated Physical Occupancy rate of 96.2% for full year 2024
- None.
About Equity Residential
Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 309 properties consisting of 83,040 apartment units, with an established presence in
Forward-Looking Statements
In addition to historical information, this press release contains forward-looking statements and information within the meaning of the federal securities laws. These statements are based on current expectations, estimates, projections and assumptions made by management. While Equity Residential’s management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks, including, without limitation, changes in general market conditions, including the rate of job growth and cost of labor and construction material, the level of new multifamily construction and development, government regulations and competition. These and other risks and uncertainties are described under the heading “Risk Factors” in our Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC) and available on our website, www.equityapartments.com. Many of these uncertainties and risks are difficult to predict and beyond management’s control. Forward-looking statements are not guarantees of future performance, results or events. Equity Residential assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Terms and Definitions:
Blended Rate – The weighted average of New Lease Change and Renewal Rate Achieved.
New Lease Change – The net effective change in rent (inclusive of Leasing Concessions) for a lease with a new or transferring resident compared to the rent for the prior lease of the identical apartment unit, regardless of lease term.
Physical Occupancy – The weighted average occupied apartment units for the reporting period divided by the average of total apartment units available for rent for the reporting period.
Renewal Rate Achieved – The net effective change in rent (inclusive of Leasing Concessions) for a new lease on an apartment unit where the lease has been renewed as compared to the rent for the prior lease of the identical apartment unit, regardless of lease term.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240904915223/en/
Marty McKenna (312) 928-1901
Source: Equity Residential
FAQ
What is Equity Residential's (EQR) projected Blended Rate growth for Q3 2024?
What is EQR's anticipated Physical Occupancy rate for the full year 2024?
How is Equity Residential's same store revenue growth performing according to the update?
What is the current state of demand for Equity Residential's apartment units?
