Equity Residential (EQR) Tops Q2 EPS by 64c

Equity Residential (NYSE: EQR) reported Q2 EPS of $0.84, $0.64 better than the analyst estimate of $0.20. FFO was $0.78.

“Driven by an accelerating economy and the reopening of cities, our operations continue to recover rapidly with robust demand for our apartments in all our markets leading to high occupancy, increased pricing power and an almost complete absence of new lease concessions. This has driven pricing and Physical Occupancy up so quickly that they now equal or exceed 2019 levels in most of our markets,” said Mark J. Parrell, Equity Residential’s President and CEO. “Based on these positive indicators, we are pleased to raise our annual same store revenue guidance range to (5%) - (4%) with an expectation that quarter over quarter same store revenue growth could return as early as the fourth quarter of this year.”

For earnings history and earnings-related data on Equity Residential (EQR) click here.

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