Equity Residential - EQR STOCK NEWS

Equity Residential (EQR) reported strong financial results for Q1 2023, with earnings per share (EPS) of $0.56, a remarkable 194.7% increase from $0.19 in Q1 2022. Funds from Operations (FFO) per share rose by 10.4% to $0.85, while Normalized FFO increased 13.0% to $0.87. Same store revenues surged 9.2%, driven by robust demand and improved delinquency rates in Southern California. However, same store expenses grew 7.2%, influenced by higher maintenance costs due to severe weather. The company also sold seven properties in LA for approximately $135.3 million and acquired a 262-unit property in Atlanta for $78.6 million. A 6.0% dividend increase reflects confidence in its business outlook. Q2 2023 guidance estimates EPS between $0.59 and $0.63, with anticipated growth in FFO and Normalized FFO.

Equity Residential (NYSE: EQR) will announce its first quarter 2023 operating results on April 25, 2023 after market close. A conference call will follow on April 26, 2023 at 10:00 a.m. Central to discuss these results, accessible via the company's website.

Equity Residential operates in the residential property sector, focusing on acquisitions and management in affluent urban areas. The company owns or has investments in 308 properties, totaling 79,594 apartment units, primarily in cities like Boston, New York, Washington D.C., Seattle, San Francisco, and Southern California, with recent expansions in Denver, Atlanta, Dallas/Ft. Worth, and Austin.

Equity Residential (NYSE: EQR) announced a 6.0% increase in its annualized dividend, now set at $2.65 per share. The first quarter dividend of $0.6625 will be paid on April 14, 2023 to shareholders on record by March 27, 2023. Additionally, a quarterly dividend of $1.03625 will be distributed on March 31, 2023 for Series K Preferred Shares. The Company’s Annual Meeting of Shareholders is scheduled for June 15, 2023. This dividend increase reflects the strength of Equity Residential's business and aims to enhance long-term value for shareholders.

Equity Residential (NYSE: EQR) has released an updated Investor Presentation ahead of its upcoming investor meetings. Interested parties can view the presentation on the company’s investor webpage at www.equityapartments.com. As a member of the S&P 500, Equity Residential specializes in the acquisition, development, and management of residential properties primarily located in urban areas. The company owns or has investments in 308 properties, totaling 79,597 apartment units across key markets including Boston, New York, Washington D.C., and San Francisco, among others.

Equity Residential (NYSE: EQR) reported its 2022 results, highlighting a significant decrease in EPS to $2.05, down 42.1% from 2021. However, FFO per share rose by 19.3% to $3.53. The company anticipates strong growth in 2023 with same store revenue growth projected between 4.5% and 6.0%. Notably, the company sold $633.2 million in non-core properties to improve liquidity, and it established a new $2.5 billion revolving credit facility. Despite strong fundamentals, projected revenue growth may be negatively affected by 0.9% due to bad debt issues. The first quarter of 2023 EPS guidance ranges from $0.28 to $0.32.

Equity Residential (NYSE: EQR) will release its fourth quarter 2022 operating results on February 9, 2023, after market close. A conference call to discuss these results is scheduled for February 10, 2023, at 10:00 a.m. Central. The live webcast will be accessible via the investor section of www.equityapartments.com. As a member of the S&P 500, Equity Residential focuses on the acquisition, development, and management of residential properties appealing to affluent long-term renters.

Equity Residential (NYSE: EQR) has declared its fourth-quarter dividend for common shares at $0.625 per share, payable on January 13, 2023, to shareholders recorded by January 3, 2023. Additionally, a quarterly dividend of $1.03625 will be paid on January 3, 2023, to Series K Preferred shareholders recorded by December 22, 2022. The company owns or invests in 308 properties with 79,594 apartment units, focusing on affluent long-term renters in key U.S. cities.

Equity Residential (NYSE: EQR) announced that its senior management team, including President and CEO Mark J. Parrell, will participate in the Nareit REITWorld Annual Conference on November 15-16, 2022. In conjunction with this event, the Company has released an Investor Update available on its website. Equity Residential focuses on acquiring, developing, and managing residential properties in dynamic urban areas, owning or investing in 308 properties with 79,594 apartment units across cities like Boston, New York, and San Francisco.

Equity Residential (EQR) reported Q3 2022 results showcasing EPS of $0.86, down 25.2% from $1.15 in 2021, while FFO per share increased by 18.4% to $0.90. Same store revenue surged by 11.8%, reflecting strong leasing demand. The company anticipates full-year same store revenue growth around 10.6%, exceeding previous estimates. Notably, two properties were sold for $480.5 million, funding debt repayments to enhance financial stability. Despite challenging markets in San Francisco and Seattle, EQR remains optimistic about future performance.