Equity Residential Q4 2024 Earnings Report
Key Takeaways
Equity Residential reported Q4 2024 results, with EPS at $1.10, FFO per share at $0.97, and Normalized FFO per share at $1.00. The company acquired three properties for $274.3 million and sold seven properties for $610.1 million during the quarter. They also increased the 2025 annual common share dividend by 2.6% to $2.77 per share.
Same store revenues increased by 2.4% compared to Q4 2023.
The company acquired three properties for approximately $274.3 million and sold seven properties for approximately $610.1 million during Q4 2024.
The Board of Trustees increased the 2025 annual common share dividend by 2.6% to $2.77 per share.
Full year 2025 guidance includes same store revenue growth expected to be between 2.25% and 3.25%.
Equity Residential
Equity Residential
Forward Guidance
The Company has established guidance ranges for the first quarter of 2025 EPS, FFO per share and Normalized FFO per share as listed below: Q1 2025 Guidance EPS $0.63 to $0.67 FFO per share $0.89 to $0.93 Normalized FFO per share $0.90 to $0.94
Positive Outlook
- Residential same store NOI $(0.03 )
- 2025 and 2024 transaction activity impact on NOI, net (0.02 )
- Interest expense, net 0.01
- Corporate overhead (0.03 )
- Other items (0.01 )
Challenges Ahead
- lower expected property sale gains
- Residential same store NOI $(0.03 )
- 2025 and 2024 transaction activity impact on NOI, net (0.02 )
- Corporate overhead (0.03 )
- Other items (0.01 )