Investing.com - Equity Residential (NYSE:EQR) reported on Tuesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Equity Residential announced earnings per share of $1.4 on revenue of $645.13M. Analysts polled by Investing.com anticipated EPS of $0.2614 on revenue of $633.48M.
Equity Residential shares are up 3% from the beginning of the year, still down 5.30% from its 52 week high of $93.03 set on January 4. They are outperforming the S&P 500 which is down 4.61% from the start of the year.
Equity Residential shares gained 16.22% in after-hours trade following the report.
Equity Residential follows other major Real Estate sector earnings this month
Equity Residential's report follows an earnings beat by Prologis on January 19, who reported EPS of $1.67 on revenue of $1.07B, compared to forecasts EPS of $0.7055 on revenue of $1.07B.
Crown Castle had beat expectations on January 26 with fourth quarter EPS of $0.81 on revenue of $1.65B, compared to forecast for EPS of $0.7708 on revenue of $1.63B.
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