Equity Residential: Q4 Earnings Snapshot

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CHICAGO (AP) — CHICAGO (AP) — Equity Residential (EQR) on Monday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.

The real estate investment trust, based in Chicago, said it had funds from operations of $392.1 million, or $1 per share, in the period.

The average estimate of 12 analysts surveyed by Zacks Investment Research was for funds from operations of $1 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 $418.8 million, or $1.10 per share.

The real estate investment trust, based in Chicago, posted revenue of $766.8 million in the period, which topped Street forecasts. Ten analysts surveyed by Zacks expected $757.4 million.

For the year, the company reported funds from operations of $1.52 billion. Revenue was reported as $2.98 billion.

For the current quarter ending in March, Equity Residential expects its per-share funds from operations to range from 90 cents to 94 cents.

The company expects full-year funds from operations in the range of $3.90 to $4 per share.

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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