Equity Residential reports Q3 normalized FFO $1.02, consensus $1.02

Reports Q3 revenue $782.4M, consensus $779.7M. “Our portfolio, with its unique exposure to the well performing urban centers of San Francisco and New York, produced good results in the quarter and our sophisticated operating platform continues to deliver efficiency and convenience to our customers, as well as financial benefit to our shareholders. Going forward, we expect our accelerating investment in technology to enhance both financial and customer service results,” said Mark J. Parrell, Equity Residential’s (EQR) President and CEO. “We continue to see a favorable outlook for our business given the low levels of housing supply expected to be delivered over the next several years, particularly in our Coastal markets, powerful cost and social dynamics favoring rentership and a customer base that remains well employed with rising incomes.”