Welcome to our dedicated page for Equity Residential news (Ticker: EQR), a resource for investors and traders seeking the latest updates and insights on Equity Residential stock.
Equity Residential (EQR) maintains its position as a leading real estate investment trust through strategic management of high-demand apartment communities across major U.S. markets. This news hub provides investors and stakeholders with essential updates on the company's operational milestones and market activities.
Access timely information about earnings reports, property acquisitions, management initiatives, and sustainability efforts. Our curated collection features official press releases and third-party analysis, offering multiple perspectives on EQR's performance in the competitive multifamily housing sector.
Key updates include quarterly financial results, portfolio expansion announcements, leadership changes, and community development projects. The resource enables users to track EQR's progress in maintaining occupancy rates, implementing operational efficiencies, and responding to urban housing trends.
Bookmark this page for continuous access to verified information about Equity Residential's market strategy. Combine these updates with broader industry analysis for comprehensive investment research in the residential REIT sector.
Equity Residential (NYSE: EQR) reported Q3 2024 results with mixed performance metrics. Same store revenue increased 2.7% year-over-year, driven by strong demand across markets. The company's Normalized FFO per share rose to $0.98, up 2.1% from Q3 2023. During the quarter, EQR acquired 14 properties with 4,418 apartment units for $1.26 billion at a 5.1% cap rate in Atlanta, Dallas/Ft. Worth, and Denver. The company issued $600 million in 10-year notes at 4.65%, the lowest rate for a REIT since 2022. Physical occupancy remained strong at 96.1%, though new lease rates showed some weakness, particularly in Los Angeles and Expansion Markets.
Equity Residential (NYSE: EQR) has published its 2024 Corporate Responsibility report, marking its 11th annual publication. The report highlights the company's progress in sustainability, employee development, and governance initiatives. Key achievements include advancing towards energy, emissions, and water reduction goals, maintaining alignment with Science-Based Targets, and receiving an A- rating in the 2023 CDP Climate Change assessment. The company scored in the 92nd percentile in the 2023 S&P Global Corporate Sustainability Assessment and was recognized among America's Most Responsible Companies by Newsweek for the fifth consecutive year. EQR also received Industry Top Rated and Regional Top Rated designations from Sustainalytics in 2024.
Equity Residential (NYSE: EQR) has announced the release date for its third quarter 2024 operating results. The company will disclose its financial performance on Wednesday, October 30, 2024, after the market closes. Following the release, Equity Residential will host a conference call to discuss the results on Thursday, October 31, 2024, at 10:30 a.m. Central. Investors and interested parties can access the conference call via a web cast available on the Investor section of the company's website at www.equityapartments.com.
Equity Residential (NYSE: EQR) has announced its third quarter dividends for 2024. The company's Board of Trustees has declared a regular common share dividend of $0.675 per share, payable on October 11, 2024, to shareholders of record as of September 24, 2024. Additionally, holders of the company's Series K Preferred Shares will receive a quarterly dividend of $1.03625 per share, to be paid on September 30, 2024, to shareholders of record as of September 20, 2024. This announcement demonstrates Equity Residential's commitment to providing consistent returns to its shareholders.
Equity Residential (NYSE: EQR), a prominent real estate company, has announced its participation in the Bank of America Securities 2024 Global Real Estate Conference. The company's President and CEO, Mark J. Parrell, will be part of a roundtable discussion scheduled for Wednesday, September 11 at 1:30 p.m. ET.
The event will be web cast live, with a link available on the company's website under the Presentations section of the Investor area. Additionally, Equity Residential released an operating update on September 4, 2024, which can be accessed in the Press Releases section of their website's Investor area.
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) has agreed to acquire 11 apartment properties from Blackstone Real Estate strategies for approximately $964 million. The portfolio consists of 3,572 apartment units located in Atlanta, Dallas/Ft. Worth, and Denver. These properties, averaging eight years old, align with Equity Residential's expansion strategy in high-growth markets.
The transaction is expected to close in the third quarter of 2024, subject to customary conditions. Equity Residential aims to leverage its operating platform to unlock additional value from these properties. The company reaffirmed its earnings guidance provided in the Second Quarter 2024 Earnings Release.
This acquisition marks a significant step towards Equity Residential's goal of increasing its net operating income from these expansion markets. The deal also highlights the strong institutional demand for high-quality rental housing assets in attractive markets.
Equity Residential (NYSE: EQR) reported strong Q2 2024 results, exceeding expectations and prompting improved guidance. Key highlights include:
- Same store revenue increased 2.9% YoY
- Same store NOI increased 3.0% YoY
- EPS of $0.47, up 27.0% YoY
- Normalized FFO per share of $0.97, up 3.2% YoY
The company raised its full-year 2024 guidance, including:
- Same store revenue growth: 2.9% to 3.5% (up 70 bps at midpoint)
- Same store NOI growth: 3.0% to 3.5% (up 145 bps at midpoint)
- Normalized FFO per share: $3.86 to $3.92 (up $0.04 at midpoint)
EQR's portfolio benefits from steady demand from well-employed, higher-earning renters, elevated single-family housing costs, and manageable new apartment supply in most markets.
Equity Residential has reopened the Harbor Steps Apartments' staircase plaza in downtown Seattle after a year-long renovation. The public plaza, known as 'The Steps,' connects downtown to the Seattle Waterfront with 107 steps. The redesign by GGLO includes:
- Four redesigned fountains
- Added bench seating
- 350% more landscaped planters
- New wayfinding and interpretive signage
- Sustainability features like LED lighting and water-efficient irrigation
The plaza now offers 30,000 square feet of retail space with various dining and shopping options. A grand reopening celebration is scheduled for July 23, 2024, featuring a ribbon-cutting ceremony, restaurant specials, live music, and activities.
Equity Residential (NYSE: EQR) has announced the release date for its second quarter 2024 operating results. The company will publish the results on Monday, July 29, 2024, after the market closes. A conference call to discuss these results is scheduled for Tuesday, July 30, 2024, at 10:00 a.m. Central Time. The call will be accessible via webcast on the Investor section of the company's website, www.equityapartments.com.
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