CHICAGO (AP) — CHICAGO (AP) — Equity Residential (EQR) on Tuesday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The Chicago-based real estate investment trust said it had funds from operations of $399.2 million, or $1.02 per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.02 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $288.7 million, or 76 cents per share.
The real estate investment trust, based in Chicago, posted revenue of $782.4 million in the period, which topped Street forecasts. Eight analysts surveyed by Zacks expected $781.4 million.
For the current quarter ending in December, Equity Residential expects its per-share funds from operations to range from $1.02 to $1.06.
The company expects full-year funds from operations in the range of $3.98 to $4.02 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EQR at https://www.zacks.com/ap/EQR
Copyright © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
