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Equity Residential: 4Q Earnings Snapshot

The Chicago-based real estate investment trust said it had funds from operations of $324.1 million, or 84 cents per share, in the period.

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The company said it had net income of $116.4 million, or 31 cents per share.

The real estate investment trust posted revenue of $652.7 million in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $650 million.

For the year, the company reported funds from operations of $1.25 billion, or $3.25 per share. Revenue was reported as $2.58 billion.

For the current quarter ending in April, Equity Residential expects its per-share funds from operations to range from 78 cents to 82 cents.

The company expects full-year funds from operations in the range of $3.34 to $3.44 per share.

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https://finance.yahoo.com/news/equity-re...28339.html

Equity Residential (EQR) Tops Q4 FFO and Revenue Estimates

Equity Residential EQR reported fourth-quarter 2019 normalized funds from operations (FFO) per share of 91 cents, surpassing the Zacks Consensus Estimate of 89 cents. Moreover, normalized FFO per share figure comes in 8.3% higher than the 84 cents reported in the year-ago quarter.

Results mirror improved same-store net operating income (NOI) and growth in average rental rate. The company has also provided its guidance for the ongoing year.

Total revenues in the reported quarter came in at $683.9 million, up 4.8% from the prior-year reported figure. In addition, the revenue figure comfortably outpaced the Zacks Consensus Estimate of $685 million.

For full-year 2019, normalized FFO per share came in at $3.49, ahead of the Zacks Consensus Estimate of $3.47 and the prior-year tally of $3.25. This was supported by 4.8% year-over-year growth in total revenues of $2.7 billion.


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https://finance.yahoo.com/news/equity-re...03160.html