Equity Residential (EQR) Misses Q3 FFO by 1c; Guides
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Equity Residential Reports Third Quarter 2016 Results
October 25, 2016 4:14 PM EDTCHICAGO--(BUSINESS WIRE)--
Equity Residential (NYSE: EQR) today reported results for the quarter and nine months ended September 30, 2016. All per share results are reported as available to common shares/units on a diluted basis.
Renter demand in urban and high density, close-in suburban markets remains extraordinarily strong as demonstrated by 96% occupancy across our portfolio, said David J. Neithercut, Equity Residentials President and CEO. However, new apartment supply and slowing growth of higher paying jobs have combined to constrain rental rates causing our revenue growth this year to revert more in line with historical trends.
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