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How wealthy is Equity Real Estate?

As many of you are aware, Equity Real Estate is a big apartment landlord in Boston. Owning two massive apartment towers near MGH across from Boston’s Beacon Hill.

Equity Residential (EQR)

Equity Residential is a big player in the multifamily real estate business: the company commands a market cap of around $29 billion and has a portfolio of 310 properties consisting of 80,227 apartment units.

The portfolio is geographically diversified, too. Equity Residential has an established presence in Boston, New York, D.C., Seattle, and San Francisco — and is expanding in metros like Denver, Atlanta, Dallas, and Austin.

Just like the other two REITs, Equity Residential is making more money in this inflationary environment.

According to the latest earnings report, Equity Residential’s same-store revenue increased 13.6% year over year in Q2. The company attributed the growth to strong occupancy rates and “continued growth in pricing power.”

The REIT has a quarterly dividend rate of 62.5 cents per share, giving the stock an annual yield of 3.2%.

Mizuho analyst Haendel St. Juste has a ‘buy’ rating on Equity Residential and a price target of $79. Considering that the REIT has climbed quite a bit recently and trades at $77 per share at the moment, it’s approaching that target fast.

Updated: Boston Real Estate Blog 2022

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