Overview

* Equity Residential ( EQR ) Q3 EPS rises 100% yr/yr, driven by higher property sale gains

* Company repurchased 1.5 mln shares for $99.1 mln, reflecting active portfolio management

* Q3 revenue growth driven by strong performance in San Francisco and New York

Outlook

* Equity Residential ( EQR ) revises full-year 2025 EPS guidance to $2.52-$2.56 from $2.96-$3.02

* Company sees full-year 2025 FFO per share at $3.98-$4.02, down from $4.03-$4.09

* Equity Residential ( EQR ) maintains full-year 2025 Normalized FFO per share guidance at $3.98-$4.02

Result Drivers

* URBAN MARKET PERFORMANCE - Strong performance in San Francisco and New York drove Q3 revenue growth by 3%

* HIGH RETENTION RATE - Achieved highest Q3 resident retention rate in company history, supporting stable occupancy

* PORTFOLIO MANAGEMENT - Acquired a 375-unit property in Arlington, TX, and sold two properties for $247.9 mln

Key Details

Metric Beat/Mis Actual Consensu

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Estimate

Q3 EPS $0.76

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 14 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the residential reits peer group is "buy"

* Wall Street's median 12-month price target for Equity Residential ( EQR ) is $74.00, about 14.4% above its October 27 closing price of $63.31

* The stock recently traded at 41 times the next 12-month earnings vs. a P/E of 46 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)