Intrinsic value of Equity Residential - EQR

Previous Close

$67.39

  Intrinsic Value

$1.44

stock screener

  Rating & Target

str. sell

-98%

Previous close

$67.39

 
Intrinsic value

$1.44

 
Up/down potential

-98%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as EQR.

We calculate the intrinsic value of EQR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 24.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,520
  2,578
  2,645
  2,719
  2,801
  2,892
  2,990
  3,097
  3,212
  3,335
  3,467
  3,608
  3,758
  3,917
  4,086
  4,265
  4,454
  4,655
  4,867
  5,090
  5,326
  5,575
  5,837
  6,113
  6,405
  6,711
  7,034
  7,373
  7,730
  8,106
Variable operating expenses, $m
  1,630
  1,667
  1,709
  1,756
  1,808
  1,866
  1,928
  1,996
  2,069
  2,147
  2,200
  2,289
  2,384
  2,485
  2,593
  2,706
  2,826
  2,954
  3,088
  3,230
  3,380
  3,537
  3,704
  3,879
  4,064
  4,258
  4,463
  4,678
  4,905
  5,143
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,630
  1,667
  1,709
  1,756
  1,808
  1,866
  1,928
  1,996
  2,069
  2,147
  2,200
  2,289
  2,384
  2,485
  2,593
  2,706
  2,826
  2,954
  3,088
  3,230
  3,380
  3,537
  3,704
  3,879
  4,064
  4,258
  4,463
  4,678
  4,905
  5,143
Operating income, $m
  890
  912
  936
  963
  993
  1,026
  1,062
  1,101
  1,143
  1,188
  1,267
  1,318
  1,373
  1,431
  1,493
  1,559
  1,628
  1,701
  1,779
  1,860
  1,946
  2,037
  2,133
  2,234
  2,341
  2,453
  2,571
  2,695
  2,825
  2,962
EBITDA, $m
  3,059
  3,129
  3,209
  3,300
  3,400
  3,510
  3,629
  3,758
  3,898
  4,047
  4,207
  4,378
  4,560
  4,753
  4,958
  5,176
  5,406
  5,649
  5,906
  6,177
  6,464
  6,765
  7,084
  7,419
  7,772
  8,144
  8,536
  8,948
  9,381
  9,837
Interest expense (income), $m
  482
  952
  343
  352
  362
  374
  386
  400
  415
  432
  449
  468
  488
  510
  533
  558
  583
  611
  640
  671
  703
  738
  774
  812
  852
  895
  939
  987
  1,036
  1,088
  1,143
Earnings before tax, $m
  -62
  568
  584
  601
  619
  640
  662
  686
  711
  739
  799
  830
  863
  898
  936
  975
  1,017
  1,061
  1,108
  1,157
  1,209
  1,264
  1,321
  1,382
  1,446
  1,513
  1,584
  1,659
  1,737
  1,819
Tax expense, $m
  0
  153
  158
  162
  167
  173
  179
  185
  192
  199
  216
  224
  233
  243
  253
  263
  275
  286
  299
  312
  326
  341
  357
  373
  390
  409
  428
  448
  469
  491
Net income, $m
  -62
  415
  426
  439
  452
  467
  483
  501
  519
  539
  583
  606
  630
  656
  683
  712
  742
  775
  809
  845
  882
  922
  964
  1,009
  1,055
  1,105
  1,156
  1,211
  1,268
  1,328

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  66
  68
  70
  72
  74
  76
  79
  81
  84
  88
  91
  95
  99
  103
  107
  112
  117
  122
  128
  134
  140
  147
  154
  161
  168
  177
  185
  194
  203
  213
Adjusted assets (=assets-cash), $m
  66
  68
  70
  72
  74
  76
  79
  81
  84
  88
  91
  95
  99
  103
  107
  112
  117
  122
  128
  134
  140
  147
  154
  161
  168
  177
  185
  194
  203
  213
Revenue / Adjusted assets
  38.182
  37.912
  37.786
  37.764
  37.851
  38.053
  37.848
  38.235
  38.238
  37.898
  38.099
  37.979
  37.960
  38.029
  38.187
  38.080
  38.068
  38.156
  38.023
  37.985
  38.043
  37.925
  37.903
  37.969
  38.125
  37.915
  38.022
  38.005
  38.079
  38.056
Average production assets, $m
  21,376
  21,867
  22,429
  23,060
  23,759
  24,526
  25,362
  26,266
  27,240
  28,285
  29,404
  30,597
  31,868
  33,218
  34,651
  36,170
  37,777
  39,477
  41,273
  43,169
  45,170
  47,281
  49,505
  51,849
  54,317
  56,916
  59,651
  62,530
  65,558
  68,743
Working capital, $m
  -9,923
  -10,151
  -10,412
  -10,705
  -11,029
  -11,386
  -11,773
  -12,193
  -12,645
  -13,130
  -13,650
  -14,204
  -14,793
  -15,420
  -16,086
  -16,790
  -17,537
  -18,326
  -19,159
  -20,040
  -20,969
  -21,948
  -22,981
  -24,069
  -25,215
  -26,421
  -27,691
  -29,027
  -30,433
  -31,912
Total debt, $m
  53
  54
  56
  58
  60
  62
  64
  67
  69
  72
  75
  79
  82
  86
  90
  94
  99
  103
  108
  114
  119
  125
  131
  138
  145
  152
  160
  168
  176
  185
Total liabilities, $m
  60
  61
  63
  64
  66
  68
  71
  73
  76
  79
  82
  85
  89
  93
  97
  101
  105
  110
  115
  121
  126
  132
  138
  145
  152
  159
  167
  175
  183
  192
Total equity, $m
  7
  7
  7
  7
  7
  8
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
  18
  19
  19
  20
  21
Total liabilities and equity, $m
  67
  68
  70
  71
  73
  76
  79
  81
  84
  88
  91
  94
  99
  103
  108
  112
  117
  122
  128
  134
  140
  147
  153
  161
  169
  177
  186
  194
  203
  213
Debt-to-equity ratio
  7.980
  8.000
  8.030
  8.060
  8.080
  8.110
  8.140
  8.170
  8.200
  8.230
  8.260
  8.290
  8.320
  8.340
  8.370
  8.400
  8.420
  8.450
  8.470
  8.500
  8.520
  8.540
  8.560
  8.580
  8.600
  8.620
  8.630
  8.650
  8.670
  8.680
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -62
  415
  426
  439
  452
  467
  483
  501
  519
  539
  583
  606
  630
  656
  683
  712
  742
  775
  809
  845
  882
  922
  964
  1,009
  1,055
  1,105
  1,156
  1,211
  1,268
  1,328
Depreciation, amort., depletion, $m
  2,168
  2,218
  2,274
  2,337
  2,407
  2,483
  2,567
  2,657
  2,755
  2,859
  2,940
  3,060
  3,187
  3,322
  3,465
  3,617
  3,778
  3,948
  4,127
  4,317
  4,517
  4,728
  4,950
  5,185
  5,432
  5,692
  5,965
  6,253
  6,556
  6,874
Funds from operations, $m
  2,106
  2,632
  2,700
  2,775
  2,859
  2,950
  3,050
  3,158
  3,274
  3,399
  3,524
  3,666
  3,817
  3,978
  4,148
  4,329
  4,520
  4,722
  4,936
  5,161
  5,399
  5,650
  5,915
  6,194
  6,487
  6,796
  7,121
  7,464
  7,824
  8,202
Change in working capital, $m
  -195
  -228
  -261
  -293
  -325
  -356
  -388
  -420
  -452
  -485
  -519
  -554
  -590
  -627
  -665
  -705
  -746
  -789
  -834
  -880
  -929
  -980
  -1,033
  -1,088
  -1,146
  -1,206
  -1,270
  -1,336
  -1,406
  -1,479
Cash from operations, $m
  2,301
  2,861
  2,961
  3,068
  3,183
  3,307
  3,438
  3,578
  3,726
  3,884
  4,043
  4,220
  4,407
  4,604
  4,813
  5,034
  5,266
  5,511
  5,770
  6,042
  6,328
  6,630
  6,948
  7,282
  7,633
  8,003
  8,391
  8,800
  9,230
  9,681
Maintenance CAPEX, $m
  -2,096
  -2,138
  -2,187
  -2,243
  -2,306
  -2,376
  -2,453
  -2,536
  -2,627
  -2,724
  -2,829
  -2,940
  -3,060
  -3,187
  -3,322
  -3,465
  -3,617
  -3,778
  -3,948
  -4,127
  -4,317
  -4,517
  -4,728
  -4,950
  -5,185
  -5,432
  -5,692
  -5,965
  -6,253
  -6,556
New CAPEX, $m
  -415
  -492
  -562
  -631
  -699
  -767
  -835
  -904
  -974
  -1,045
  -1,118
  -1,193
  -1,271
  -1,350
  -1,433
  -1,519
  -1,607
  -1,700
  -1,796
  -1,896
  -2,001
  -2,110
  -2,224
  -2,344
  -2,468
  -2,599
  -2,735
  -2,879
  -3,028
  -3,185
Cash from investing activities, $m
  -2,511
  -2,630
  -2,749
  -2,874
  -3,005
  -3,143
  -3,288
  -3,440
  -3,601
  -3,769
  -3,947
  -4,133
  -4,331
  -4,537
  -4,755
  -4,984
  -5,224
  -5,478
  -5,744
  -6,023
  -6,318
  -6,627
  -6,952
  -7,294
  -7,653
  -8,031
  -8,427
  -8,844
  -9,281
  -9,741
Free cash flow, $m
  -210
  231
  212
  194
  178
  164
  150
  137
  126
  115
  96
  86
  76
  67
  59
  50
  42
  34
  26
  18
  10
  3
  -5
  -13
  -20
  -28
  -36
  -44
  -52
  -60
Issuance/(repayment) of debt, $m
  -94
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
Issuance/(repurchase) of shares, $m
  157
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  63
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
Total cash flow (excl. dividends), $m
  -147
  233
  214
  196
  180
  166
  152
  140
  128
  117
  99
  89
  80
  71
  63
  54
  46
  39
  31
  23
  16
  9
  1
  -6
  -13
  -21
  -28
  -36
  -43
  -51
Retained Cash Flow (-), $m
  -157
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Prev. year cash balance distribution, $m
  89
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -157
  233
  213
  196
  180
  165
  152
  140
  128
  117
  99
  89
  80
  71
  62
  54
  46
  38
  30
  23
  15
  8
  1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  -149
  208
  178
  152
  130
  109
  92
  76
  63
  51
  38
  30
  23
  17
  13
  9
  6
  4
  3
  2
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Equity Residential is a real estate investment trust. The Company's primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington D.C., Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County. Other Markets includes Phoenix. It is engaged in leasing of apartment units to residents. It focuses on rental apartment properties in urban and high-density suburban coastal gateway markets. As of December 31, 2016, the Company owned 302 properties located in 10 states and the District of Columbia consisting of 77,458 apartment units. The Company's projects include The Alton, 455 Eye Street, 855 Brannan, Cascade, One Henry Adams, 340 Fremont and Vista 99. ERP Operating Limited Partnership (ERPOP) conducts the multifamily residential property business of Equity Residential.

FINANCIAL RATIOS  of  Equity Residential (EQR)

Valuation Ratios
P/E Ratio 5.7
Price to Sales 10.2
Price to Book 2.4
Price to Tangible Book
Price to Cash Flow 22.2
Price to Free Cash Flow 154.1
Growth Rates
Sales Growth Rate -11.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -18.8%
Cap. Spend. - 3 Yr. Gr. Rate 8.7%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 87.9%
Total Debt to Equity 87.9%
Interest Coverage 10
Management Effectiveness
Return On Assets 21.8%
Ret/ On Assets - 3 Yr. Avg. 10.7%
Return On Total Capital 21.1%
Ret/ On T. Cap. - 3 Yr. Avg. 9.4%
Return On Equity 41.5%
Return On Equity - 3 Yr. Avg. 18.6%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 66.8%
Gross Margin - 3 Yr. Avg. 66.7%
EBITDA Margin 233.5%
EBITDA Margin - 3 Yr. Avg. 127.1%
Operating Margin 35.3%
Oper. Margin - 3 Yr. Avg. 35.8%
Pre-Tax Margin 184.5%
Pre-Tax Margin - 3 Yr. Avg. 80.8%
Net Profit Margin 176.9%
Net Profit Margin - 3 Yr. Avg. 77.6%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0.1%
Payout Ratio 111.2%

EQR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EQR stock intrinsic value calculation we used $2471 million for the last fiscal year's total revenue generated by Equity Residential. The default revenue input number comes from 2017 income statement of Equity Residential. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EQR stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for EQR is calculated based on our internal credit rating of Equity Residential, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Equity Residential.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EQR stock the variable cost ratio is equal to 64.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for EQR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 648.5% for Equity Residential.

Corporate tax rate of 27% is the nominal tax rate for Equity Residential. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EQR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EQR are equal to 848.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Equity Residential operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EQR is equal to -393.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Equity Residential - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 367 million for Equity Residential is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Equity Residential at the current share price and the inputted number of shares is $24.7 billion.

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COMPANY NEWS

▶ Stocks - AT&T Takes Telecoms Down Midday   [Jul-25-18 02:55PM  Investing.com]
▶ Equity Residential: 2Q Earnings Snapshot   [Jul-24-18 04:44PM  Associated Press]
▶ Housing startup lands in San Francisco to disrupt corporate housing   [Jul-18-18 05:45PM  American City Business Journals]
▶ Equity Residential Declares Second Quarter Dividends   [Jun-14-18 04:30PM  Business Wire]
▶ Apartment developer looks to build hundreds of units less than 2 miles from Apple Park   [Jun-11-18 06:05PM  American City Business Journals]
▶ Equity Residential: 1Q Earnings Snapshot   [Apr-24-18 04:42PM  Associated Press]
▶ Western SoMa housing proposal joins wave of residential projects in the area   [Apr-11-18 05:17PM  American City Business Journals]
▶ Vident Financial Launches Real Estate ETF   [Apr-10-18 04:24PM  Zacks]
▶ Real Estate Deals of the Year: One Henry Adams   [Mar-22-18 10:00PM  American City Business Journals]
▶ A new NoMa apartment building may be this hotel startup's entry into D.C.   [Mar-07-18 12:05PM  American City Business Journals]
▶ Stocks That Fell to 3-Year Lows in the Week of March 2   [Mar-03-18 08:43PM  GuruFocus.com]
▶ REIT Dividends Speak Louder Than Earnings   [Feb-05-18 10:00AM  Forbes]
▶ Equity Residential reports 4Q results   [Jan-30-18 05:03PM  Associated Press]
▶ Income Stocks With A Trump Tax Bonus   [Jan-29-18 10:28AM  Forbes]
▶ 52-Week Company Lows   [Jan-25-18 10:41AM  GuruFocus.com]
▶ Stocks That Fell to 3-Year Lows in the Week of Jan. 19   [Jan-20-18 04:19PM  GuruFocus.com]
▶ 52-Week Company Lows   [Jan-18-18 10:58AM  GuruFocus.com]
▶ 3 Dividend Stocks to Buy for 2018   [Jan-17-18 07:24AM  Motley Fool]
▶ 52-Week Company Lows   [Jan-11-18 10:35AM  GuruFocus.com]
▶ What Do Wall Street Analysts Think of Equity Residential?   [Jan-10-18 09:02AM  Market Realist]
▶ How Does Equity Residentials Balance Sheet Look?   [Jan-09-18 10:34AM  Market Realist]
▶ Equity Residentials Strategic Properties Give It an Edge   [Jan-08-18 02:25PM  Market Realist]
▶ Equity Residential Declares Fourth Quarter Dividends   [Dec-19-17 05:05PM  Business Wire]
▶ The Future of Real Estate, Part 1: The Public REIT Problem   [Nov-29-17 05:06PM  GuruFocus.com]
▶ Households Think Its a Good Time to Buy a Home   [Nov-22-17 04:20PM  Market Realist]
▶ Warehouse, infrastructure owners buck sluggish REIT market   [Nov-16-17 03:08PM  Associated Press]
▶ Equity Residential reports 3Q results   [Oct-24-17 05:25PM  Associated Press]
▶ 3 Stocks for Whipping Inflation   [Oct-22-17 12:15PM  Motley Fool]
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