Equity Residential - EQR STOCK NEWS

Equity Residential (NYSE: EQR) provided an update on its same-store residential operating trends, indicating that revenue growth is on track to meet or exceed guidance. The company is experiencing strong demand and pricing for apartments, with peak rents expected in early August 2022. Key metrics include a blended rate of 11.8% for August and physical occupancy of 96.6%. The report highlights a healthy renewal rate, with 52% of residents renewing monthly leases. The company owns 309 properties with 79,730 units across major U.S. cities.

Equity Residential (EQR) reported its Q2 2022 earnings, showing a 29.8% decrease in EPS at $0.59 compared to $0.84 in 2021. However, FFO per share increased by 14.1% to $0.89, while Normalized FFO rose by 23.6% to $0.89. The company revised its 2022 revenue guidance from 9.0% to 10.5% and NOI guidance to 13.75%-14.75%. Q2 same-store revenue grew by 13.6%, supported by strong occupancy and pricing power. The company sold properties totaling $680.7 million in New York during 2022.

Equity Residential (NYSE: EQR) announced it will release its second quarter 2022 operating results on July 26, 2022, after the market close. A conference call to discuss these results is scheduled for July 27, 2022, at 10:00 a.m. Central. The call will be accessible via webcast on the Investor section of www.equityapartments.com. Equity Residential is a member of the S&P 500, managing 310 properties with 80,227 apartment units in key markets including Boston, New York, and Washington, D.C.

Equity Residential (NYSE: EQR) has declared quarterly dividends on its common and preferred shares. A common share dividend of $0.625 per share is set for payment on July 8, 2022, to shareholders on record by June 27, 2022. Additionally, a quarterly dividend of $1.03625 per share for Series K Preferred Shares will be paid on June 30, 2022, to shareholders on record by June 17, 2022. Equity Residential focuses on acquiring and managing residential properties in major U.S. cities, operating 310 properties with 80,227 apartment units.

Equity Residential (NYSE: EQR) announced that its President and CEO, Mark J. Parrell, will participate in a roundtable presentation at the Nareit REIT Week 2022 Investor Conference on June 7 at 11:45 a.m. ET. The presentation will be web cast live, accessible via the Company's website. Equity Residential is a leading residential real estate company with investments in 311 properties and 80,581 apartment units, primarily in Boston, New York, Washington, D.C., Seattle, San Francisco, and Southern California.

Equity Residential (NYSE: EQR) mourns the passing of Raymond “Ray” Bennett, a Board member since 2018, who died at 53. As President of U.S. and Canada Franchising at Marriott International (NASDAQ: MAR), Bennett contributed significant operational expertise to the company. Equity Residential's President and CEO, Mark J. Parrell, expressed deep condolences and highlighted Bennett's positive influence and contributions. Equity Residential focuses on managing residential properties in thriving urban areas, owning 310 properties with 80,227 apartment units across major U.S. cities.

Equity Residential (NYSE: EQR) reported Q1 2022 earnings, with EPS at $0.19, and FFO per share at $0.77, reflecting a 26.7% and 14.9% respective increase year-over-year. Revenue grew by 7.8%, driven by high occupancy at 96.4% and improved lease rates. Operating expenses increased modestly by 2.5%. The company acquired a 172-unit property in San Diego for $113 million but reported higher delinquency in Southern California, partially offset by strong lease rates. Q2 2022 guidance projects EPS between $1.00 and $1.04, indicating positive cash flow prospects.

Equity Residential (NYSE: EQR) will release its Q1 2022 operating results on April 26, 2022, after market close, followed by a conference call on April 27, 2022, at 10:00 a.m. Central. The call can be accessed via a webcast on their investor website. With a focus on the acquisition and management of residential properties, Equity Residential owns or has investments in 311 properties with 80,581 apartment units, primarily in major cities like Boston, New York, and San Francisco.

Broad Street Realty, Inc. (OTCQX: BRST) appointed Donna Brandin to its Board of Directors, effective immediately. Michael Z. Jacoby, the company's CEO, expressed enthusiasm for her expertise. Brandin boasts a robust background, having served as CFO at Equity Residential (NYSE: EQR) and held key financial roles at various REITs. Her educational qualifications include a B.S. in Accounting and a master's in Finance. Broad Street Realty focuses on essential grocery-anchored and mixed-use assets, primarily in densely populated areas. The company aims to enhance its cash flow and drive same-store NOI.