Loading...
•
Sep 30, 2022
Equity Residential Q3 2022 Earnings Report
Reported strong performance driven by healthy demand during the primary leasing season.
Key Takeaways
Equity Residential reported strong third quarter results driven by healthy demand and an affluent resident base with growing incomes. The company experienced an 11.8% increase in same store revenue and expects full year same store revenue growth to be approximately 10.6%.
Reported EPS of $0.86, FFO per share of $0.90, and Normalized FFO per share of $0.92.
Experienced an 11.8% increase in same store revenue compared to the same period of 2021.
Sold two properties for a total sale price of $480.5 million and used the proceeds to pay down $500.0 million in debt due in 2023.
Revised full year 2022 same store revenue growth to be approximately 10.6%.
Equity Residential
Equity Residential
Forward Guidance
The Company has established guidance ranges for the fourth quarter of 2022 EPS, FFO per share and Normalized FFO per share.