WASHINGTON (dpa-AFX) - Equity Residential (EQR) Tuesday reported first-quarter net income of $256.2 million, or $0.67 per share, compared to $293.8 million, or $0.77 per share last year.
Funds from Operations for the first quarter were $368.9 million or $0.94 per share, compared to FFO of $338.4 million, or $0.87 per share last year.
Normalized Funds from Operations for the first quarter were $372.5 million or $0.95 per share, compared to FFO of $364.9 million, or $0.93 per share last year.
Revenue for the first quarter increased to $760.8 million, compared to $730.8 million last year.
Looking forward to the second quarter, the company expects earnings per share of $0.49 to $0.53, FFO per share of $0.95 to $0.99 and Normalized FFO per share of $0.96 to $1.00.
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