- Equity Residential press release (NYSE:EQR): Q2 FFO of $0.94 in-line.
- Revenue of $717.31M (+4.4% Y/Y) in-line.
- FY23 Normalized FFO per share Guidance revised to $3.77 to $3.83 from $3.73 to $3.83, vs. consensus of $3.77
- Same store revenue increased 5.5% for the second quarter of 2023 compared to the second quarter of 2022. The Company increased its 2023 annual same store revenue growth guidance midpoint to 5.875% in May 2023.
- Same store expense growth for the second quarter of 2023 compared to the second quarter of 2022 was 5.5%. The Company expects lower same store expense growth in the second half of the year and has lowered its full year same store expense guidance midpoint down 25 basis points to 4.25% from 4.5%.
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