Equity Residential (EQR) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Equity Residential (EQR) reported $724.07 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 4.2%. EPS of $0.96 for the same period compares to $0.86 a year ago.
The reported revenue represents a surprise of -0.54% over the Zacks Consensus Estimate of $727.96 million. With the consensus EPS estimate being $0.97, the EPS surprise was -1.03%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Equity Residential performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Physical Occupancy Rate: 96% versus the three-analyst average estimate of 96.1%.
Apartment Units - Total: 80,683 versus the two-analyst average estimate of 80,212.
Change in Same Store Revenue Growth: 4.1% versus 5% estimated by two analysts on average.
Revenues- Rental income- Total same store: $704.09 million compared to the $690.41 million average estimate based on two analysts.
Net Earnings Per Share (Diluted): $0.45 versus $0.46 estimated by seven analysts on average.
View all Key Company Metrics for Equity Residential here>>>
Shares of Equity Residential have returned -5.9% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Equity Residential (EQR) : Free Stock Analysis Report
