What drove EQR's strong Q4 2024 performance?

Equity Residential's (EQR) strong Q4 2024 performance can be attributed to several key factors: 1. **Revenue Growth**: EQR's Total Revenue for Q4 2024 was $766.78 million, with a revenue surprise of $11.54 million. This growth can be attributed to strong demand and limited new supply in established markets, as well as the company's strategic acquisitions. |code|Ticker|Name|Date|Revenue Surprise|Total Revenue|market_code| |---|---|---|---|---|---|---| |EQR|EQR.N|Equity Residential|2024 Q1|2730000|7.30818E8|169| |EQR|EQR.N|Equity Residential|2024 Q2|-980000|7.34163E8|169| |EQR|EQR.N|Equity Residential|2024 Q3|4130000|7.48348E8|169| |EQR|EQR.N|Equity Residential|2024 Q4|1.154E7|7.66779E8|169| 2. **Net Income and EPS Growth**: The company reported a Net Income of $433.87 million for Q4 2024, with a net income surprise of $0.69. The Diluted EPS was $1.1, with an EPS surprise of $0.69. These figures indicate a strong profitability period for the company. |code|Ticker|Name|Date|EPS Surprise|Diluted EPS|market_code| |---|---|---|---|---|---|---| |EQR|EQR.N|Equity Residential|2024 Q1|0.44|0.77|169| |EQR|EQR.N|Equity Residential|2024 Q2|0.09|0.47|169| |EQR|EQR.N|Equity Residential|2024 Q3|-0.02|0.38|169| |EQR|EQR.N|Equity Residential|2024 Q4|0.69|1.1|169| |code|Ticker|Name|Date|Net Income|market_code| |---|---|---|---|---|---| |EQR|EQR.N|Equity Residential|2024 Q1|3.05032E8|169| |EQR|EQR.N|Equity Residential|2024 Q2|1.83555E8|169| |EQR|EQR.N|Equity Residential|2024 Q3|1.48517E8|169| |EQR|EQR.N|Equity Residential|2024 Q4|4.33871E8|169| 3. **Acquisitions and Market Position**: EQR's aggressive acquisition strategy, such as the $1.26 billion in acquisitions during Q3 2024, has likely contributed to its strong performance. The company's market position, with a 96.1% occupancy rate during Q3 2024, also suggests a stable and healthy market. 4. **Financial Efficiency**: The company's technological deployments to enhance efficiency and resident experiences may have improved operational efficiency, leading to better financial outcomes. In conclusion, EQR's strong Q4 2024 performance is driven by revenue growth, net income and EPS growth, strategic acquisitions, and efficient operations. These factors combined have contributed to the company's solid financial results.