Feb 3 (Reuters) - Equity Residential ( EQR ) 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 ( EQR ) 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.