The company said it expects EPS and FFO per share to be in the bottom half of the full-year guidance ranges it reaffirmed in its April 23, 2024 earnings release, Q1, due to the litigation reserve adjustment it recorded in Q1. The company cited the litigation reserve adjustment as the reason.

8-KRegulation FD DisclosureFiled May 28, 2024Period of report May 28, 2024Summary published (UTC) Oct 30, 2026

Key points

AI summary

The company said it expects EPS and FFO per share to be in the bottom half of the full-year guidance ranges it reaffirmed in its April 23, 2024 earnings release, Q1, due to the litigation reserve adjustment it recorded in Q1. The company cited the litigation reserve adjustment as the reason.
Equity Residential said Normalized FFO per share, same store revenue and same store net operating income (NOI) are trending toward the top of their respective full-year guidance ranges.
The company reported Physical Occupancy for 77,211 same store apartment units of 96.5% in May 2024, 96.3% in Q1 2024 and 95.8% in Q4 2023. The May figures are preliminary as of May 24, 2024.
The company reported New Lease Change of 4.6% in Q4 2023, 2.2% in Q1 2024 and 0.4% in May 2024. Blended Rate for the same periods, in the same order, was 0.7%, 1.6% and 2.9%.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Bottom-Half EPS and FFO Guidance Expected

The company said it expects EPS and FFO per share to be in the bottom half of the full-year guidance ranges it reaffirmed in its April 23, 2024 earnings release, Q1, due to the litigation reserve adjustment it recorded in Q1. The company cited the litigation reserve adjustment as the reason.

Source · Based on the filing body and exhibits

Normalized FFO and Same Store Metrics Trend Toward Guidance Top

Equity Residential said Normalized FFO per share, same store revenue and same store net operating income (NOI) are trending toward the top of their respective full-year guidance ranges.

Source · Based on the filing body and exhibits

Same Store Physical Occupancy by Period

The company reported Physical Occupancy for 77,211 same store apartment units of 96.5% in May 2024, 96.3% in Q1 2024 and 95.8% in Q4 2023. The May figures are preliminary as of May 24, 2024.

Source · Based on the filing body and exhibits

New Lease Change and Blended Rate by Period

The company reported New Lease Change of 4.6% in Q4 2023, 2.2% in Q1 2024 and 0.4% in May 2024. Blended Rate for the same periods, in the same order, was 0.7%, 1.6% and 2.9%.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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