“We are pleased to report results that exceeded our expectations and to be seeing positive forward momentum in our business which led us to significantly improve our guidance,” said Mark J. Parrell, Equity Residential’s President and CEO. “Our portfolio continues to benefit from steady demand from our well-employed, higher earning renter demographic, elevated single family housing costs and manageable new apartment supply across most of our markets. We also continue to see positive customer satisfaction and employee engagement results. I commend my colleagues across the Company for their work in obtaining these outstanding results.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EQR:
- Is EQR a Buy, Before Earnings?
- Citi sees little financial risk to apartment REITs from reported Biden plan
- Biden to unveil plan to cap rents as GOP convention begins, Washington Post says
- Equity Residential upgraded to Overweight from Neutral at Piper Sandler
- Equity Residential price target raised to $73 from $67 at Truist