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| Equity Residential posts second quarter 2009 results Chicago-based Equity Residential, the second largest owner and operator of multi-family, apartment complexes in the U.S., reported results for the quarter and six months ended June 30, 2009. For the second quarter of 2009, the company reported earnings per share of $0.35 compared to earnings of $0.46 per share in the second quarter of 2008. The difference is primarily due to lower gains from property sales caused by lower property sales volume in 2009 and lower property net operating income (NOI) and a development-related impairment charge, which are both discussed below. Funds from Operations (FFO) for the quarter ended June 30, 2009 was $0.58 per share compared to $0.64 per share in the same period of 2008. For the six months ended June 30, 2009, the company reported earnings of $0.64 per share compared to $0.96 per share in the same period of 2008. FFO for the six months ended June 30, 2009 was $1.16 per share compared to $1.22 per share in the same period of 2008. write your comments about the article :: © 2009 Construction News :: home page |