Equity Residential, Chicago, has reported earnings per share of $0.35 for the first quarter, a 14.6% decline from EPS of $0.41 for the first quarter of 2003.The largest multifamily real estate investment trust (by market capitalization) also reported net income of $117.065 million for the first quarter, compared with $135.347 million for the comparable period of 2003. "We continue to look at 2004 as a transitional year leading to very strong 2005 performance," said Bruce W. Duncan, the REIT's president and chief executive officer. "While we are more optimistic today than we were three months ago, we remain cautious in our expectations for the remainder of the year." The REIT's funds from operations figure -- an adjusted earnings measure that is widely used in the REIT world -- was $0.52 per share for the first quarter, compared with $0.57 a year earlier. The REIT can be found online at http://www.equityapartments.com.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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