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Equity Residential of Beneficial Interest (EQR+0.07%) has filed its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes audited financial statements and details the company's operations, financial condition, and results of operations for the year.
Equity Residential reported net income of $1,070,975,000 for the year, an increase from $868,488,000 in the previous year. This growth was driven by higher rental income and gains on sales of real estate properties.
The company reported total revenues of $2,980,108,000, up from $2,873,964,000 in 2023. Rental income was the primary contributor to this increase.
Total expenses for the year were $2,108,409,000, compared to $1,995,918,000 in 2023. The increase was mainly due to higher property and maintenance expenses, real estate taxes, and insurance costs.
Equity Residential completed several acquisitions and dispositions during the year, acquiring 18 properties and disposing of 13 properties. The acquisitions were primarily in the Atlanta, Boston, Dallas/Ft. Worth, and Denver markets.
The company invested $301,434,000 in capital expenditures to real estate, focusing on building improvements, renovations, and replacements.
Equity Residential's balance sheet shows total assets of $20,834,176,000 and total liabilities of $9,249,829,000 as of December 31, 2024.
The company declared a quarterly dividend of $0.675 per share/unit, reflecting an annualized increase of 2.0% over the previous year.
Equity Residential continues to focus on its strategy of acquiring and managing high-quality rental apartment properties in key U.S. markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Equity Residential of Beneficial Interest annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.