Equity Residential Lowers FY22 EPS Outlook

(RTTNews) - While reporting its second-quarter results on Tuesday, Equity Residential (EQR) revised its earnings guidance for the full year 2022.

Looking forward to full year 2022, the company now expects earnings of $1.98- $2.08 per share, FFO per share of $3.45 - $3.55, and normalized FFO per share of $3.48 to $3.58.

Previously, the company epxected earnings of $4.18 to $4.28 per share, FFO of $3.36 to $3.46 per share, and Core FFO of $3.40 to $3.50 per share. Analysts currently estimate earnings of $1.16 per share for the year.

The company also increased the midpoint of its full year 2022 same store revenue guidance to 10.5% from 9.0%.

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