Subtext

Equity Residential EQR

SectorReal Estate
Transcripts68
Date range2007-10-31 – 2025-04-30
Calls charted68

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-15-8+0+8+152007 Q32009 Q42012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q3 · Overall: +2.52007 Q4 · Overall: +1.52008 Q1 · Overall: -1.72008 Q2 · Overall: +3.12008 Q3 · Overall: +0.42008 Q4 · Overall: +2.92009 Q1 · Overall: -1.42009 Q2 · Overall: +3.72009 Q3 · Overall: +4.82009 Q4 · Overall: +9.12010 Q1 · Overall: +6.82011 Q1 · Overall: +3.52011 Q2 · Overall: +4.32011 Q3 · Overall: +7.02011 Q4 · Overall: -1.52012 Q1 · Overall: +2.22012 Q2 · Overall: +4.22012 Q3 · Overall: +6.52012 Q4 · Overall: +1.92013 Q1 · Overall: +1.42013 Q2 · Overall: +2.82013 Q3 · Overall: +2.22013 Q4 · Overall: +5.02014 Q1 · Overall: +5.72014 Q2 · Overall: +12.42014 Q3 · Overall: +9.52014 Q4 · Overall: +9.72015 Q1 · Overall: +8.42015 Q2 · Overall: +10.72015 Q3 · Overall: +6.12015 Q4 · Overall: +4.62016 Q1 · Overall: +1.62016 Q2 · Overall: +2.52016 Q3 · Overall: +5.72016 Q4 · Overall: +3.02017 Q1 · Overall: +4.92017 Q2 · Overall: +5.82017 Q3 · Overall: +6.12017 Q4 · Overall: +4.02018 Q1 · Overall: +6.72018 Q2 · Overall: +4.72018 Q3 · Overall: +4.42018 Q4 · Overall: +4.52019 Q1 · Overall: +8.82019 Q2 · Overall: +6.82019 Q3 · Overall: +5.82019 Q4 · Overall: +13.32020 Q1 · Overall: -4.32020 Q2 · Overall: -2.32020 Q3 · Overall: -1.02020 Q4 · Overall: +8.12021 Q1 · Overall: +6.92021 Q2 · Overall: +5.92021 Q3 · Overall: +6.12021 Q4 · Overall: +6.82022 Q1 · Overall: +5.02022 Q2 · Overall: +6.52022 Q3 · Overall: -0.92022 Q4 · Overall: -2.72023 Q1 · Overall: +1.32023 Q2 · Overall: +8.62023 Q3 · Overall: -1.82023 Q4 · Overall: +5.42024 Q1 · Overall: +0.52024 Q2 · Overall: +9.62024 Q3 · Overall: +10.12024 Q4 · Overall: +8.92025 Q1 · Overall: +5.0
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-20-10+0+10+202007 Q32009 Q42012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q3 · CEO: +8.12007 Q4 · CEO: +3.12008 Q1 · CEO: -2.32008 Q2 · CEO: +5.62008 Q3 · CEO: +0.72008 Q4 · CEO: +3.42009 Q1 · CEO: +4.32009 Q2 · CEO: +11.42009 Q3 · CEO: +8.72009 Q4 · CEO: +11.22010 Q1 · CEO: +10.62011 Q1 · CEO: +5.62011 Q2 · CEO: +6.52011 Q3 · CEO: +10.42011 Q4 · CEO: +2.32012 Q1 · CEO: +8.02012 Q2 · CEO: +5.32012 Q3 · CEO: +11.32012 Q4 · CEO: +8.32013 Q1 · CEO: +5.32013 Q2 · CEO: +3.82013 Q3 · CEO: +7.62013 Q4 · CEO: +11.02014 Q1 · CEO: +8.22014 Q2 · CEO: +17.72014 Q3 · CEO: +13.32014 Q4 · CEO: +13.12015 Q1 · CEO: +13.72015 Q2 · CEO: +13.32015 Q3 · CEO: +17.52015 Q4 · CEO: +6.62016 Q1 · CEO: +5.22016 Q2 · CEO: +8.62016 Q3 · CEO: +7.72016 Q4 · CEO: +3.72017 Q1 · CEO: +1.92017 Q2 · CEO: +7.72017 Q3 · CEO: +5.82017 Q4 · CEO: +2.42018 Q1 · CEO: +3.92018 Q2 · CEO: +2.52018 Q3 · CEO: +6.62018 Q4 · CEO: +3.22019 Q1 · CEO: +6.62019 Q2 · CEO: +4.62019 Q3 · CEO: +6.82019 Q4 · CEO: +10.82020 Q1 · CEO: -4.72020 Q2 · CEO: +4.22020 Q3 · CEO: -3.82020 Q4 · CEO: +6.22021 Q1 · CEO: +7.42021 Q2 · CEO: +8.22021 Q3 · CEO: +3.32021 Q4 · CEO: +8.92022 Q1 · CEO: +0.92022 Q2 · CEO: +5.82022 Q3 · CEO: -1.32022 Q4 · CEO: -1.42023 Q1 · CEO: +6.52023 Q2 · CEO: +14.52023 Q3 · CEO: -1.92023 Q4 · CEO: +5.82024 Q2 · CEO: +10.42024 Q3 · CEO: +9.82024 Q4 · CEO: +9.22025 Q1 · CEO: -0.42007 Q3 · CFO: -1.12007 Q4 · CFO: +2.52008 Q1 · CFO: +2.92008 Q2 · CFO: +11.12008 Q3 · CFO: +5.12008 Q4 · CFO: +5.12009 Q1 · CFO: +5.62009 Q2 · CFO: +1.82009 Q3 · CFO: +11.22009 Q4 · CFO: +12.22010 Q1 · CFO: +5.82011 Q1 · CFO: +7.42011 Q2 · CFO: +8.82011 Q3 · CFO: +8.72011 Q4 · CFO: -5.12012 Q1 · CFO: +6.72012 Q2 · CFO: +0.02012 Q3 · CFO: -4.52012 Q4 · CFO: +0.92013 Q1 · CFO: +1.42013 Q2 · CFO: +0.72013 Q3 · CFO: +3.42013 Q4 · CFO: +3.82014 Q1 · CFO: +7.62014 Q2 · CFO: +9.92014 Q3 · CFO: +6.42014 Q4 · CFO: +4.32015 Q1 · CFO: +2.22015 Q2 · CFO: +16.22015 Q3 · CFO: +4.92015 Q4 · CFO: +2.72016 Q1 · CFO: -6.02016 Q2 · CFO: -5.32016 Q3 · CFO: +3.72016 Q4 · CFO: +2.82017 Q1 · CFO: -1.92017 Q2 · CFO: +7.02017 Q3 · CFO: +1.92017 Q4 · CFO: +1.62018 Q1 · CFO: +11.92018 Q2 · CFO: +3.72018 Q3 · CFO: +8.22018 Q4 · CFO: +0.02019 Q1 · CFO: +6.32019 Q2 · CFO: +7.32019 Q3 · CFO: +5.72019 Q4 · CFO: +9.72020 Q1 · CFO: -11.82020 Q2 · CFO: -7.52020 Q3 · CFO: +4.22020 Q4 · CFO: +12.22021 Q1 · CFO: -8.62021 Q2 · CFO: +2.42021 Q3 · CFO: +15.72021 Q4 · CFO: +9.62022 Q1 · CFO: +6.42022 Q2 · CFO: +8.02022 Q3 · CFO: +0.72022 Q4 · CFO: -7.62023 Q1 · CFO: +8.42023 Q2 · CFO: +6.52023 Q3 · CFO: +4.82023 Q4 · CFO: +0.02024 Q2 · CFO: +8.42024 Q3 · CFO: +8.42024 Q4 · CFO: +4.82025 Q1 · CFO: +16.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-42-21+0+21+422007 Q32009 Q42012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q3 · Prepared remarks: +4.52007 Q4 · Prepared remarks: +4.62008 Q1 · Prepared remarks: -0.52008 Q2 · Prepared remarks: +7.62008 Q3 · Prepared remarks: +3.02008 Q4 · Prepared remarks: +5.02009 Q1 · Prepared remarks: +6.22009 Q2 · Prepared remarks: +7.12009 Q3 · Prepared remarks: +11.22009 Q4 · Prepared remarks: +16.22010 Q1 · Prepared remarks: +11.82011 Q1 · Prepared remarks: +10.92011 Q2 · Prepared remarks: +11.12011 Q3 · Prepared remarks: +16.42011 Q4 · Prepared remarks: +1.52012 Q1 · Prepared remarks: +8.42012 Q2 · Prepared remarks: +8.22012 Q3 · Prepared remarks: +16.92012 Q4 · Prepared remarks: +8.42013 Q1 · Prepared remarks: +5.32013 Q2 · Prepared remarks: +6.72013 Q3 · Prepared remarks: +6.32013 Q4 · Prepared remarks: +5.12014 Q1 · Prepared remarks: +21.42014 Q2 · Prepared remarks: +14.52014 Q3 · Prepared remarks: +20.32014 Q4 · Prepared remarks: +16.22015 Q1 · Prepared remarks: +15.62015 Q2 · Prepared remarks: +19.22015 Q3 · Prepared remarks: +20.12015 Q4 · Prepared remarks: +4.72016 Q1 · Prepared remarks: +9.32016 Q2 · Prepared remarks: -1.92016 Q3 · Prepared remarks: +9.52016 Q4 · Prepared remarks: +7.02017 Q1 · Prepared remarks: +20.52017 Q2 · Prepared remarks: +17.92017 Q3 · Prepared remarks: +18.32017 Q4 · Prepared remarks: +13.32018 Q1 · Prepared remarks: +19.62018 Q2 · Prepared remarks: +13.42018 Q3 · Prepared remarks: +15.92018 Q4 · Prepared remarks: +14.02019 Q1 · Prepared remarks: +25.12019 Q2 · Prepared remarks: +16.92019 Q3 · Prepared remarks: +13.22019 Q4 · Prepared remarks: +24.62020 Q1 · Prepared remarks: -4.42020 Q2 · Prepared remarks: +2.72020 Q3 · Prepared remarks: -1.12020 Q4 · Prepared remarks: +12.62021 Q1 · Prepared remarks: +15.72021 Q2 · Prepared remarks: +9.42021 Q3 · Prepared remarks: +16.32021 Q4 · Prepared remarks: +20.82022 Q1 · Prepared remarks: +23.52022 Q2 · Prepared remarks: +6.82022 Q3 · Prepared remarks: +9.82022 Q4 · Prepared remarks: +1.52023 Q1 · Prepared remarks: +13.72023 Q2 · Prepared remarks: +10.92023 Q3 · Prepared remarks: -1.82023 Q4 · Prepared remarks: +11.42024 Q1 · Prepared remarks: +36.42024 Q2 · Prepared remarks: +24.32024 Q3 · Prepared remarks: +20.22024 Q4 · Prepared remarks: +15.82025 Q1 · Prepared remarks: +5.02007 Q3 · Q&A responses: +3.82007 Q4 · Q&A responses: +5.92008 Q1 · Q&A responses: -0.92008 Q2 · Q&A responses: +4.22008 Q3 · Q&A responses: +1.12008 Q4 · Q&A responses: +5.82009 Q1 · Q&A responses: -4.52009 Q2 · Q&A responses: +4.32009 Q3 · Q&A responses: +5.02009 Q4 · Q&A responses: +8.02010 Q1 · Q&A responses: +7.82011 Q1 · Q&A responses: +5.42011 Q2 · Q&A responses: +5.72011 Q3 · Q&A responses: +7.12011 Q4 · Q&A responses: -0.52012 Q1 · Q&A responses: +4.02012 Q2 · Q&A responses: +3.92012 Q3 · Q&A responses: +5.72012 Q4 · Q&A responses: +1.42013 Q1 · Q&A responses: +3.22013 Q2 · Q&A responses: +0.82013 Q3 · Q&A responses: +4.72013 Q4 · Q&A responses: +7.92014 Q1 · Q&A responses: +1.52014 Q2 · Q&A responses: +12.42014 Q3 · Q&A responses: +5.22014 Q4 · Q&A responses: +9.02015 Q1 · Q&A responses: +5.02015 Q2 · Q&A responses: +10.82015 Q3 · Q&A responses: +9.02016 Q1 · Q&A responses: -0.22016 Q2 · Q&A responses: +5.82016 Q3 · Q&A responses: +4.32016 Q4 · Q&A responses: +3.42017 Q1 · Q&A responses: +0.62017 Q2 · Q&A responses: +5.72017 Q3 · Q&A responses: +1.62017 Q4 · Q&A responses: -0.42018 Q1 · Q&A responses: +3.02018 Q2 · Q&A responses: +1.72018 Q3 · Q&A responses: +4.12018 Q4 · Q&A responses: +1.82019 Q1 · Q&A responses: +6.42019 Q2 · Q&A responses: +5.02019 Q3 · Q&A responses: +6.42019 Q4 · Q&A responses: +6.22020 Q2 · Q&A responses: +0.52020 Q4 · Q&A responses: +5.62021 Q1 · Q&A responses: +5.92021 Q2 · Q&A responses: +6.22021 Q3 · Q&A responses: +3.92021 Q4 · Q&A responses: +4.42022 Q1 · Q&A responses: +3.12022 Q3 · Q&A responses: -0.12022 Q4 · Q&A responses: +0.12023 Q1 · Q&A responses: +3.42023 Q2 · Q&A responses: +4.52023 Q4 · Q&A responses: +7.02024 Q1 · Q&A responses: +4.62024 Q2 · Q&A responses: +6.82024 Q3 · Q&A responses: +7.42024 Q4 · Q&A responses: +8.22025 Q1 · Q&A responses: +12.7
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.38$3.49$6.602007 Q32009 Q42012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12014 Q1: $1.412014 Q2: $1.262014 Q3: $1.342014 Q4: $1.402015 Q1: $1.592015 Q2: $1.722015 Q3: $1.732015 Q4: $1.612016 Q1: $1.872016 Q2: $6.172016 Q3: $3.812016 Q4: $1.322017 Q1: $1.322017 Q2: $1.332017 Q3: $1.422017 Q4: $1.382018 Q1: $1.342018 Q2: $1.382018 Q3: $1.392018 Q4: $1.382019 Q1: $1.322019 Q2: $1.422019 Q3: $1.582019 Q4: $1.472020 Q1: $1.472020 Q2: $1.522020 Q3: $1.462020 Q4: $0.982021 Q1: $0.902021 Q2: $0.812021 Q3: $1.342021 Q4: $1.412022 Q1: $1.242022 Q2: $1.352022 Q3: $1.572022 Q4: $1.622023 Q1: $1.672023 Q2: $1.652023 Q3: $1.702023 Q4: $1.572024 Q1: $1.552024 Q2: $1.812024 Q3: $1.79

Forward P/E

3.5954.49105.392007 Q32009 Q42012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12014 Q1: 40.552014 Q2: 48.862014 Q3: 46.402014 Q4: 51.622015 Q1: 50.652015 Q2: 42.832015 Q3: 41.832015 Q4: 50.202016 Q1: 39.282016 Q2: 10.612016 Q3: 16.672016 Q4: 47.572017 Q1: 48.052017 Q2: 50.522017 Q3: 47.322017 Q4: 47.562018 Q1: 44.432018 Q2: 45.962018 Q3: 48.212018 Q4: 49.442019 Q1: 56.542019 Q2: 55.232019 Q3: 53.972019 Q4: 54.622020 Q1: 41.482020 Q2: 41.132020 Q3: 39.092020 Q4: 60.262021 Q1: 82.092021 Q2: 98.372021 Q3: 61.292021 Q4: 63.282022 Q1: 71.002022 Q2: 51.222022 Q3: 47.122022 Q4: 39.462023 Q1: 35.912023 Q2: 40.222023 Q3: 36.762023 Q4: 38.822024 Q1: 40.842024 Q2: 37.372024 Q3: 43.00

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q2 tone ↑ +6.7 fwd EPS ↓ -0.15 Tone rose while the forward EPS estimate was cut.
  • 2014 Q3 tone ↓ -2.9 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q1 tone ↓ -3.1 fwd EPS ↑ +0.26 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↑ +3.1 fwd EPS ↓ -2.36 Tone rose while the forward EPS estimate was cut.
  • 2018 Q1 tone ↑ +2.7 fwd EPS ↓ -0.04 Tone rose while the forward EPS estimate was cut.
  • 2019 Q1 tone ↑ +4.2 fwd EPS ↓ -0.05 Tone rose while the forward EPS estimate was cut.
  • 2019 Q4 tone ↑ +7.5 fwd EPS ↓ -0.11 Tone rose while the forward EPS estimate was cut.
  • 2020 Q4 tone ↑ +9.1 fwd EPS ↓ -0.48 Tone rose while the forward EPS estimate was cut.
  • 2022 Q3 tone ↓ -7.4 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↑ +7.2 fwd EPS ↓ -0.02 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -10.4 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↑ +7.2 fwd EPS ↓ -0.13 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-30+5.0——View →
2024 Q42025-02-04+8.9——View →
2024 Q32024-10-31+10.1$1.7943.0View →
2024 Q22024-07-30+9.6$1.8137.4View →
2024 Q12024-04-24+0.5$1.5540.8View →
2023 Q42024-01-31+5.4$1.5738.8View →
2023 Q32023-11-01-1.8$1.7036.8View →
2023 Q22023-07-28+8.6$1.6540.2View →