Equity Residential (EQR), headquartered in Chicago, Illinois, is focused on acquiring, developing, and managing residential properties. Valued at $25.50 billion by market cap, the company owns or has investments in 299 properties consisting of 79,688 apartment units. It has a presence in Boston, New York, Washington, D.C., Seattle, San Francisco, and Southern California. It is also expanding its presence in Denver, Atlanta, Dallas/ Ft. Worth, and Austin. The leading REIT is expected to announce its fiscal second-quarter earnings for 2024 after the market closes on Monday, Jul. 29.
Ahead of the event, analysts expect EQR to report an FFO of $0.96 per share on a diluted basis, up 2.1% from $0.94 per share in the year-ago quarter. The company beat or matched the consensus FFO estimates in three of the last four quarters while missing the forecast on another occasion. During the previous quarter, EQR’s same-store revenue increased 4.1% compared to the prior year quarter. It repurchased and retired 652,452 of its common shares.
