Equity Residential guides to high end of year forecast range

|About: Equity Residential (EQR)|By:, SA News Editor

Equity Residential (NYSE:EQR) sees year results near the top end of its guidance range if current trends continue; previous 2019 normalized FFO per share guidance range was $3.34-$3.44.

Sees Q2 normalized FFO per share of 82 cent-86 cents; consensus estimate of 85 cents.

Q1 normalized FFO per share of 82 cents, in-line with consensus estimate, rose from 77 cents in the year-ago quarter.

Q1 same-store revenue growth of 3.1% with physical occupancy rate of 96.3% vs. 96.0% in Q1 2018.

Q1 same-store NOI growth of 2.5%.

Q1 total revenue of $662.5M, beating the consensus estimate of $655.0M, increased from $633.0M.

Conference call on May 1 at 11:00 AM ET.

Previously: Equity Residential FFO in-line, beats on revenue (April 30)

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