In a highly volatile week across global financial markets, U.S. equity markets ultimately finished the week little-changed, while benchmark interest rates rebounded from the lowest levels of the year. Following a historic surge in volatility, stabilization in Asian and European markets, decent jobless claims data, and clarity on the domestic Presidential matchup helped to ease market jitters. Narrowly avoiding a fourth-straight week of losses, the S&P 500 finished flat - staging a late-week rebound after sharp declines early in the week. The Nasdaq remained in "correction territory."

Equity Residential (EQR) is set to buy properties from Blackstone worth $1 billion in its expansion markets.

Shares of Equity Residential (EQR) fell Wednesday after the real estate investment trust (REIT) announced it had agreed to purchase 11 apartment properties from Blackstone's (BX) real estate unit in separate deals valued at approximately $964 million.

U.S. equity markets tumbled in a volatile week, while benchmark interest rates plunged by the most since December 2008 after employment data showed decisive evidence of weakening labor market conditions. Volatility was amplified by a confluence of central bank policy decisions, a hit-and-miss slate of corporate earnings results, an intensification of geopolitical risks, and a re-pricing of domestic political expectations. Among several weak employment reports, the critical nonfarm payrolls report showed that the unemployment rate jumped to the highest level since 2021 in July, and the report was even weaker under-the-surface.

The next cycle for public REITs could be more similar to those of the 1990s and early 2000s than one of the past 14 years. In prior cycles, public REITs enjoyed a cost of capital that allowed for significant external growth, boosting cash flow and dividends per share. Many companies spent the past cycle shoring up their balance sheets to record low leverage and maintaining a low dividend payout to enhance flexibility.

Equity Residential (EQR) is well positioned to outperform the market, as it exhibits above-average growth in financials.

Equity Residential (NYSE:EQR ) Q2 2024 Earnings Conference Call July 30, 2024 11:00 AM ET Company Participants Marty McKenna - Vice President, Investor Relations Mark Parrell - President & Chief Executive Officer Michael Manelis - Executive Vice President & Chief Operating Officer Robert Garechana - Executive Vice President & Chief Financial Officer Alexander Brackenridge - Executive Vice President and Chief Investment Officer Conference Call Participants Eric Wolfe - Citi Steve Sakwa - Evercore ISI Adam Kramer - Morgan Stanley Josh Dennerlein - Bank of America Anthony Paolone - JPMorgan Michael Goldsmith - UBS Nicholas Yulico - Scotiabank John Kim - BMO Capital Markets James Feldman - Wells Fargo Haendel St. Juste - Mizuho Alexander Goldfarb - Piper Sandler Operator Good day, and welcome to the Equity Residential Second Quarter 2024 Earnings Conference Call and Webcast. Today's conference is being recorded.

Equity Residential's (EQR) Q2 FFO tops estimates. Results reflect strong demand and expense efficiency.

The headline numbers for Equity Residential (EQR) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Equity Residential (EQR) came out with quarterly funds from operations (FFO) of $0.97 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to FFO of $0.94 per share a year ago.

Equity Residential's (EQR) Q2 results are likely to benefit from its portfolio diversification efforts and technology investments amid healthy demand, though high supply is likely to have partly dampened the positives.

Despite the elevated supply of new units, high homeownership costs and tech-enabled features are likely to draw healthy rental demand, poising the Zacks Equity REIT - Residential industry players like AVB, EQR and INVH well for growth.