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EQR Equity Residential

63.11
0.54 (0.86%)
29 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Equity Residential NYSE:EQR NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.54 0.86% 63.11 63.45 62.76 62.84 2,133,572 00:00:00

Equity Residential's Forecast Beats Projections -- Earnings Review

24/04/2018 11:42pm

Dow Jones News


Equity Residential (NYSE:EQR)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Equity Residential Charts.
   By Maria Armental 
 

Equity Residential (EQR) reported first-quarter results Tuesday. Here's what you need to know:

 

EARNINGS: Profit rose 48% to $211 million, or 57 cents a share. Analysts surveyed by Thomson Reuters projected 27 cents a share in adjusted profit.

 

FFO: Funds from operations, a key performance measure for real-estate investment trusts, was 71 cents a share, compared with 76 cents a share a year earlier. On an adjusted basis, FFO rose to 77 cents a share from 74 cents a year earlier. Equity Residential had forecast 69 cents to 73 cents a share in FFO and 74 cents to 78 cents a share in adjusted FFO.

 

REVENUE: Revenue rose 5% to $633 million, beating analysts' projected $627.3 million.

 

OUTLOOK: Equity Residential raised its profit forecast for the year to a range of $1.75 to $1.85 a share, from its earlier view of $1.71 to $1.81 a share, and affirmed FFO guidance. For the current quarter, it projects profit of 36 cents to 40 cents a share and FFO of 77 cents to 81 cents a share, compared with analysts' projected 32 cents a share in profit and FFO of 80 cents a share.

 

STOCK: Shares, which lag the market with a 4.8% decline this year, rose 1.8% to $61.79 in after-hours trading.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

April 24, 2018 18:27 ET (22:27 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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