Equity Residential (EQR), headquartered in Chicago, Illinois, specializes in the acquisition, development, and management of residential properties. Valued at $27.4 billion by market cap, the company owns or has investments in 299 properties consisting of 79,688 apartment units. Its extensive portfolio spans major markets, including Boston, New York, Washington, D.C., Seattle, San Francisco, and Southern California.
Shares of this leading residential REIT have slightly underperformed the broader market over the past year. EQR stock has gained 14.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27%. However, things are looking up for the stock in 2024. EQR stock is up 18.7%, surpassing SPX’s 16.8% rise on a YTD basis.
