Brazil might be an exception to the rule of thumb that says avoid the asset everyone’s piling into, according to the chief executive of Equity International, the international arm of real estate mogul Sam Zell. Get the full story »
Equity Residential
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Equity Residential first-quarter profit drops 32%
Equity Residential’s first-quarter profit declined 32% on higher expenses, as the real estate investment trust reported lower rental rates but an increase in occupancy.
Looking ahead, Equity Residential sees second-quarter funds from operations — a key profitability measure for REITs — of 53 cents to 57 cents a share. Analysts expected 52 cents, according to Thomson Reuters.
