Equity Residential Projects FY20 Same Store Revenue Growth Slightly Below 2019

(RTTNews) - Equity Residential (EQR) said, for fiscal 2020, the company projects: earnings per share in a range of $2.64 to $2.74; FFO per share of $3.57 to $3.67; and normalized FFO per share of $3.59 to $3.69. Same store revenue is expected to grow 2.3% to 3.3%, for the fiscal year.

For the first-quarter, Equity Residential projects: earnings per share of $0.98 to $1.02; FFO per share of $0.83 to $0.87; and normalized FFO per share of $0.84 to $0.88.

Equity Residential expects to declare a common share dividend of $0.6025 per share for the first quarter of 2020, which is an annualized increase of approximately 6.2% over the 2019 dividend.

For the full year 2019, the company recorded normalized FFO per share growth of 7.4%. Same store revenue growth was 3.2%, for the period.

For the fourth-quarter, normalized FFO per share growth was 8.3%. Same store revenue growth was 3.2% for the quarter.