Equity Residential (EQR) Misses Q2 FFP by 2c, Updates FY Guidance
Equity Residential (NYSE: EQR) reported Q2 EPS of $0.76, $0.02 worse than the analyst estimate of $0.78. Revenue for the quarter came in at $594.9 million versus the consensus estimate of $609.78 million.
GUIDANCE:
Equity Residential sees FY2016 EPS of $3.05-$3.11, versus the consensus of $3.05.
Full Year 2016 Guidance
The Company has revised its guidance for its full year 2016 same store operating performance, EPS, FFO per share, Normalized FFO per share and transactions as listed below:
Previous | Revised | |||
| Same store: | ||||
| Physical occupancy | 95.9% | 95.9% | ||
| Revenue change | 4.0% to 4.5% | 3.5% to 4.0% | ||
| Expense change | 2.5% to 3.0% | 2.5% to 3.0% | ||
| NOI change | 4.5% to 5.5% | 3.75% to 4.25% | ||
| EPS | $12.60 to $12.70 | $11.84 to $11.90 | ||
| FFO per share | $2.96 to $3.06 | $2.96 to $3.02 | ||
| Normalized FFO per share | $3.05 to $3.15 | $3.05 to $3.11 | ||
| Transactions: | ||||
Consolidated Rental Acquisitions | $600 million | $350 million | ||
Consolidated Rental Dispositions | $7.4 billion | $6.9 billion | ||
| Acquisition Cap Rate/Disposition Yield Spread | 75 basis points | 75 basis points |
For earnings history and earnings-related data on Equity Residential (EQR) click here.