Equity Residential (EQR) Wednesday reported an increase in its funds from operations for the second quarter.
Funds from operations, or FFO, for the quarter increased to $208 million or $0.64 per share from $184.2 million or $0.58 per share in the same period last year.
Normalized FFO was $218.5 million or $0.68 per share, compared to $190.2 million or $0.60 per share.
On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.68 per share for the quarter. Analysts' estimates typically exclude special items.
Net income for the quarter was $108.3 million or $0.33 per share, down from $581.8 million or $1.88 per share last year.
Revenues totaled $543.8 million, up from $480.4 million last year. Analysts expected revenues of $537.88 million.
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