- Equity Residential‘s 2Q normalized FFO (Funds From Operations) per share was 97 cents, exceeding the estimate of 96 cents and last year’s 94 cents.
- Rental income stood at $734.2 million, a 2.3% increase year-over-year, slightly below the estimate of $735.4 million.
- Occupancy rates improved to 96.4%, compared to last year’s 95.9% and above the estimate of 96.2%.
- For the third quarter, Equity Residential forecasts normalized FFO per share to be between 96 cents and $1.00, with an estimate set at 98 cents.
- The management expects a blended rate increase of 2.0% to 3.0% in the third quarter of 2024, reflecting typical seasonal moderation post prime leasing season.
- Equity Residential‘s stock analysts’ recommendations include 11 buys, 14 holds, and 0 sells.
A look at Equity Residential Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Equity Residential, a real estate investment trust focusing on apartment complexes in the United States, has shown promising long-term potential based on its Smartkarma Smart Scores analysis. With solid scores in Dividend, Growth, and Momentum factors at 4, the company is positioned well for steady income generation, future expansion, and positive market sentiment. Although facing challenges in Resilience with a score of 2, Equity Residential‘s overall outlook remains optimistic due to its balanced performance across key indicators.
As per the Smartkarma Smart Scores evaluation, Equity Residential‘s Value score stands at 3, indicating a fair valuation compared to its peers. This suggests that the company’s stock may not be undervalued but still offers a decent investment opportunity. Combined with its strong scores in Dividend, Growth, and Momentum, Equity Residential presents a compelling investment option for investors seeking stable returns and potential growth in the real estate sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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