Is EQR's Q1 2025 forecast achievable?

**Equity Residential's (EQR) Q1 2025 forecast is achievable**, considering the company's historical performance and current market conditions. Here's a detailed analysis to support this conclusion: 1. **Earnings Per Share (EPS) Guidance**: EQR's Q1 2025 EPS guidance is $0.900 to $0.940, compared to the consensus estimate of $0.960. While the company's guidance is slightly below the consensus, it is important to note that the EPS range still reflects a reasonable expectation of performance. 2. **Revenue Guidance**: The revenue guidance for Q1 2025 is $765.8 million. This figure is in line with the company's historical performance and market conditions, suggesting that it is a realistic target. 3. **Same-Store Revenue Growth**: EQR has experienced same-store revenue growth, with a 2.5% year-over-year increase in Q4 2024. Although this growth rate is below the company's historical performance, it indicates a positive trend that could continue into Q1 2025. 4. **Market Conditions**: Despite facing challenging market conditions, such as lease change pressures in over-supplied markets, EQR has demonstrated the ability to navigate these challenges effectively. This suggests that the company has the capability to achieve its forecasted results. 5. **Financial Metrics**: EQR's Q4 2024 financial metrics, including same-store residential revenues and NOI, exceeded expectations. This bodes well for the company's ability to meet its Q1 2025 forecast. In conclusion, while there are some factors that could potentially impact EQR's Q1 2025 performance, such as challenging market conditions and lease change pressures, the company's historical performance, current market conditions, and recent financial metrics suggest that the forecasted EPS and revenue are achievable.