- EQR's portfolio of mostly urban, mid/high-rise apartment buildings in coastal gateway cities has been slammed by COVID-19, work-from-home, and lockdowns this year.
- Occupancy and average rent rates are declining, and they are set to decline further in the coming quarters.
- Due to EQR's year-long leases, earnings probably won't bottom until about a year after the worst of the pandemic recession.
- But there are some bright spots in the darkness, including: a well-covered dividend, a strong balance sheet, and a beneficial demographic outlook.
For further details see:
Equity Residential: The Good, The Bad, And The Ugly