Investing.com - Equity Residential (NYSE:EQR) reported on Tuesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Equity Residential announced earnings per share of $0.59 on revenue of $687.03M. Analysts polled by Investing.com anticipated EPS of $0.284 on revenue of $673.58M.
Equity Residential shares are down 2% from the beginning of the year, still down 22.03% from its 52 week high of $94.32 set on April 21. They are outperforming the S&P 500 which is down 17.73% from the start of the year.
Equity Residential follows other major Real Estate sector earnings this month
Equity Residential's report follows an earnings beat by Prologis on July 18, who reported EPS of $0.82 on revenue of $1.09B, compared to forecasts EPS of $0.6478 on revenue of $1.11B.
Crown Castle had beat expectations on July 20 with second quarter EPS of $0.97 on revenue of $1.73B, compared to forecast for EPS of $0.9586 on revenue of $1.71B.
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