Equity Residential (ticker: EQR) reports challenging Q3 operating conditions with declines in urban rental portfolio lease rates and occupancy. Shares drop 7%, now down 46% YTD. Distribution yield currently 5.2%.
Perhaps most interestingly, here is their breakdown of occupancy rates:
| Asset Class | October 22, 2020 | June 30, 2020 |
| Suburban | 95.8% | 96.4% |
| Urban | 94.4% | 94.7% |
| Urban Core | 88.9% | 92.5% |
About Equity Residential: Equity Residential owns or has investments in 305 properties consisting of 78,568 apartment units, located in Boston, New York, Washington, D.C., Seattle, San Francisco, Southern California and Denver.
Source: Q3 2020 Earnings Release
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