Equity Residential Q4 Profit Increases, beats estimates

(RTTNews) - Equity Residential (EQR) revealed earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $526.20 million, or $1.40 per share. This compares with $252.08 million, or $0.68 per share, in last year's fourth quarter.

Excluding items, Equity Residential reported adjusted earnings of $320.21 million or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $645.13 million from $613.44 million last year.

Equity Residential earnings at a glance (GAAP) :

-Earnings (Q4): $526.20 Mln. vs. $252.08 Mln. last year. -EPS (Q4): $1.40 vs. $0.68 last year. -Analyst Estimate: $0.43 -Revenue (Q4): $645.13 Mln vs. $613.44 Mln last year.

-Guidance: Next quarter EPS guidance: $0.76 to $0.80