Equity Residential Updates FY Outlook

(RTTNews) - Equity Residential (EQR) said it expects earnings per share for the second-quarter to be in the range of $0.66 to $0.70, and normalized funds from operations per share of $0.67 to $0.71.

The company now expects earnings per share to be between $2.57 and $2.67, FFO per share of $2.67 - $2.77, Normalized FFO per share of $2.70 to $2.80. Previously, the company projected earnings per share to be in the range of $2.55 to $2.75, FFO per share of $2.58 to $2.78, and Normalized FFO per share of $2.60 to $2.80.

The company said it is producing occupancy and pricing trends better than its original expectations and therefore it raised its full year same store revenue guidance range by 100 basis points to -6.0% to -8.0%.