Equity Residential reports Q2 normalized FFO 99c, consensus 99c

Reports Q2 revenue $768.827M, consensus $770.07M. “We are pleased to raise the midpoints for our same store revenue and net operating income guidance. We are seeing sustained demand and a financially resilient customer across all our markets with new supply levels the main determinant of market revenue performance,” said Mark J. Parrell, Equity Residential’s (EQR) President and CEO. “Equity Residential’s unique exposure to the low supply urban centers of New York and San Francisco are driving current period results and demonstrate the benefits of our portfolio’s diversification between urban and suburban submarkets in both our coastal Established Markets and high demand Expansion Markets.”