FX.co ★ Equity Residential Q4 Profit Rises

Equity Residential announced on Tuesday that their net income for the fourth quarter stood at $310.9 million or $0.82 per share, showing a significant increase compared to last year's $158.2 million or $0.42 per share.

The company's rental revenue for the same quarter was $727.5 million, a bump from the previous year's figure of $699.7 million.

Moreover, they also reported that their Funds from Operations (FFO) for the quarter amounted to $391.2 million or $1.00 per share, this was also an increase from last year's $377.2 million or $0.97 per share. The quarter's Normalized Funds from Operations (NFFO) per share also increased, standing at $1.00 per share, a six cent rise from the previous year's $0.94 per share.