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Equity Residential - Stock Quote EQR

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Morningstar's Equity Residential Stock Analysis

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Is it the right time to buy or sell?

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Economic Moat

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Fundamentals for Equity Residential's High Quality Apartments Seeing Strong Recovery from Pandemic

Kevin Brown, CFA Equity Analyst

Business Strategy and Outlook

| Kevin Brown, CFA |

Equity Residential has repositioned its portfolio over the past decade to focus on owning and operating high-quality multifamily buildings in urban, coastal markets with demographics that allow the company to maintain high occupancies and drive strong rent growth. The company has sold out of inland and southern markets and increased its operations in high-growth core markets: Los Angeles, San Diego, San Francisco, Washington, D.C., New York, Boston, and Seattle. These markets exhibit traits that create demand for apartments, like job growth, income growth, decreasing homeownership rates, high relative cost of single-family housing, and attractive urban centers that draw younger people. The company regularly recycles capital by selling noncore assets or exiting markets and using the proceeds for its development pipeline or acquisitions with strong growth prospects, a strategy that has produced strong returns.

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Equity Residential's Company Profile

Business Description

Equity Residential owns a portfolio of 310 apartment communities with around 80,000 units and is developing three additional properties with 1,136 units. The company focuses on owning large, high-quality properties in the urban and suburban submarkets of Southern California, San Francisco, Washington, D.C., New York, Seattle, and Boston.

Contact
Two North Riverside Plaza
Chicago, IL, 60606
T +1 312 474-1300
Sector Real Estate
Industry REIT - Residential
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Hard Assets
Employees 2,400

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