Equity Residential (EQR) Wednesday reported third-quarter funds from operations, or FFO, of $292 million or $0.92 per share, compared with $196.6 million or $0.63 per share last year.
Excluding items, normalized FFO for the quarter were $232 million or $0.73 per share, compared with $193 million or $0.62 per share a year ago.
On average, 16 analysts polled by Thomson Reuters expected FFO of $0.75 per share for the quarter. Analysts' estimates typically exclude special items.
Net income for the quarter was $218.6 million or $0.72 per share, compared with $104 million or $0.35 per share last year. Net results of real estate companies usually include items that reduce their earnings.
Revenues for the quarter were $556 million, compared with $493 million a year ago.
Analysts on consensus estimated revenues of $553.43 million for the quarter.
On a same-store basis, revenues for the quarter were up 5.8%.
Looking ahead to the fourth quarter, the company expects normalized FFO of $0.72 to $0.76 per share, while analysts currently expect $0.78 per share.
For the full year, the company raised the lower end of its guidance by a cent and now estimates normalized FFO of $2.74 to $2.78 per share.
Analysts currently expect FFO of $2.78 per share for the full year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.