Equity Residential, Chicago, has reported net income of $214.0 million for the first quarter ($0.74 per share), compared with $98.3 million ($0.35 per share) for the first quarter of 2004.The real estate investment trust said the increase is mostly due to increased gains on property sales of $0.26 per share as well as an $0.18 gain per share from eBay's acquisition of Equity Residential's stake in Rent.com. The multifamily REIT also reported that its funds from operations for the first quarter were $0.74 per share, compared with $0.52 per share for the first quarter of 2004. The REIT can be found online at http://www.equityapartments.com.
Processing Content
