Equity Residential Q4 FFO Down - Quick Facts

(RTTNews) - Equity Residential (EQR) Tuesday said fourth-quarter funds from operations, or FFO, decreased to $251.43 million or $0.67 per share from $308.05 million or $0.94 per share in the same period last year.

Normalized FFO for the quarter was $288.93 million or $0.77 per share. On average, 19 analysts polled by Thomson Reuters expected the company to report FFO of $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

Net income available to common shares declined to $109.94 million or $0.18 per share from $365.98 million or $0.31 per share last year.

Revenues totaled $639.13 million, up from $452.48 million last year. Analysts expected revenues of $628.51 million.

Looking ahead to the first quarter, the company has forecast normalized FFO in a range of $0.68 to $0.72 per share. Analysts currently expect first-quarter FFO of $0.74 per share.

For the fiscal year 2014, the company currently projects normalized FFO in the range of $3.03 to $3.13 per share. Analysts currently expect full-year FFO of $3.11 per share.