Equity Residential tops fourth-quarter revenue estimates

Vivmark Residential

03/02/2025 21:53

Feb 3 (Reuters) - Equity Residential  EQR.N  beat fourth-quarter revenue
estimates on Monday, driven by strong rental demand in key markets. 
    The Chicago, Illinois-based real estate investment trust (REIT), which
operates rental apartment properties across the United States, counts the
acquisition, development, and management of multi-family residential properties
as its primary business and holds a market value of $26.79 billion. 
    The percentage of residents renewing their leases in the fourth quarter
stood at 61.3%, compared to 56.7% in the previous quarter, while physical
occupancy in the quarter came in at 96.1%, unchanged from the third quarter.
    Equity Residential reported a normalized funds from operations of $1.00 per
share in the quarter ended Dec. 31, compared with analysts' estimates of $1.01,
according to data compiled by LSEG.
    The REIT's total revenue came in at $766.7 million, topping estimates of
$755.9 million.

 (Reporting by Abhinav Parmar and Nathan Gomes in Bengaluru; Editing by Mohammed
Safi Shamsi)
 ((Abhinav.Parmar@thomsonreuters.com;))