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Sep 30, 2024
Equity Residential Q3 2024 Earnings Report
Reported solid same store revenue results driven by good demand and modest supply, and continued to benefit from high employment levels among a well earning resident base.
Key Takeaways
Equity Residential reported solid third quarter 2024 results with same store revenue increasing by 2.7%. The company acquired fourteen properties for approximately $1.26 billion and issued $600 million of unsecured notes. The business benefits from high employment levels among its resident base and limited home ownership options.
Acquired fourteen properties for an aggregate acquisition price of approximately $1.26 billion at a weighted average Acquisition Cap Rate of 5.1%.
Issued $600.0 million of unsecured 10-year notes at a coupon rate of 4.65%.
Same store revenue increased 2.7%, and same store Net Operating Income (NOI) increased 2.5%.
Published its 11th annual Corporate Responsibility report highlighting Equity Residential’s goals and accomplishments.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company has established guidance ranges for the fourth quarter of 2024 EPS, FFO per share and Normalized FFO per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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