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Equity Residential 2nd-qtr earnings measure rises
July 25, 2012 / 9:41 PM / 5 years ago

Equity Residential 2nd-qtr earnings measure rises

NEW YORK, July 25 (Reuters) - Apartment owner Equity Residential said on Wednesday a key earnings measure rose 15 percent in the second quarter, helped by the company’s ability to push up rents.

Equity Residential, whose chairman and founder is real estate mogul Sam Zell, said second-quarter funds from operations (FFO), excluding one-time items, rose to $215 million, or 68 cents a share, from $186.7 million, or 60 cents a share, a year ago. Revenue rose 13.2 percent to $541.6 million. (Reporting By Ilaina Jonas; Editing by Steve Orlofsky)

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