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Equity Residential (EQR) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Equity Residential

CIK: 906107 Ticker: EQR
Exhibit 99.1
 
Equity Residential Reports Full Year 2011 Results
 
Revenues Increase 5.0%; NOI Increases 7.7%
 
Provides Outlook for 2012 Performance
 
CHICAGO--(BUSINESS WIRE)--February 1, 2012--Equity Residential (NYSE: EQR) today reported results for the quarter and year ended December 31, 2011. All per share results are reported on a fully-diluted basis.
 
“We are extremely pleased with the 7.7% increase in same store net operating income delivered by our portfolio and our teams across the country in 2011,” said David J. Neithercut, Equity Residential’s President and CEO. “We are confident that multifamily fundamentals will remain strong as we see no let up in demand and little new supply which will keep retention high, vacancy low and rental rates on the rise.”
 
Fourth Quarter 2011
 
FFO (Funds from Operations), as defined by the National Association of Real Estate Investment Trusts (NAREIT), for the fourth quarter of 2011 was $0.64 per share compared to $0.45 per share in the fourth quarter of 2010. The difference is due primarily to a fourth quarter 2010 non-cash impairment charge on certain land parcels of $45.4 million, or $0.15 per share.
 
For the fourth quarter of 2011, the company reported Normalized FFO of $0.65 per share compared to $0.61 per share in the same period of 2010. The difference is due primarily to:
 
·  
the positive impact of $0.06 per share from higher same store net operating income (NOI) and $0.02 per share from higher NOI from properties in lease-up;
 
·  
the negative impact of $0.06 per share from 2010 and 2011 transaction activity; and
 
·  
the positive impact of approximately $0.02 per share from lower interest expense and other items.
 
Normalized FFO begins with FFO and eliminates certain items that by their nature are not comparable from period to period or that tend to obscure the company’s actual operating performance. A reconciliation and definition of Normalized FFO are provided on pages 8 and 28 of this release and the company has included guidance for Normalized FFO on page 27 of this release.
 
 
 

The following information was filed by Equity Residential (EQR) on Thursday, February 2, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Balance Sheets Of Erp Operating Limited Partnership (unaudited)
Consolidated Statement Of Changes In Capital Of Erp Operating Limited Partnership (unaudited)
Consolidated Statement Of Changes In Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows Of Erp Operating Limited Partnership (unaudited)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income Of Erp Operating Limited Partnership (unaudited)
Consolidated Statements Of Operations
Consolidated Statements Of Operations Of Erp Operating Limited Partnership (unaudited)
Business
Business (details)
Business (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Commitments To Acquire/dispose Of Real Estate
Commitments To Acquire/dispose Of Real Estate (details)
Commitments To Acquire/dispose Of Real Estate (tables)
Debt
Debt Debt (tables)
Debt Lines Of Credit (details)
Debt Mortgage Notes Payable (details)
Debt Notes (details)
Debt Notes (details) [textuals]
Debt Other (details)
Deposits - Restricted
Deposits - Restricted Deposits - Restricted Summary (tables)
Deposits - Restricted Deposits - Restricted Values (details)
Derivative And Other Fair Value Instruments
Derivative And Other Fair Value Instruments (details 1)
Derivative And Other Fair Value Instruments (details 2)
Derivative And Other Fair Value Instruments (details 3)
Derivative And Other Fair Value Instruments (details 4)
Derivative And Other Fair Value Instruments (details Textuals)
Derivative And Other Fair Value Instruments (details)
Derivative And Other Fair Value Instruments (tables)
Discontinued Operations
Discontinued Operations (details)
Discontinued Operations (tables)
Distribution Reinvestment And Share Purchase Plan
Distribution Reinvestment And Share Purchase Plan (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Employee Plans
Employee Plans (details)
Employee Plans (tables)
Equity, Capital And Other Interests
Equity, Capital And Other Interests (tables)
Equity, Capital And Other Interests Equity, Capital And Other Interest Redeemable (details)
Equity, Capital And Other Interests Equity, Capital And Other Interests Eqr Common Shares (details)
Equity, Capital And Other Interests Equity, Capital And Other Interests Erp Units (details)
Equity, Capital And Other Interests Equity, Capital And Other Interests Preferred (details)
Equity, Capital And Other Interests Equity, Capital And Other Interests Text (details)
Investments In Partially Owned Entities
Investments In Partially Owned Entities (details)
Investments In Partially Owned Entities (tables)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Real Estate
Real Estate (tables)
Real Estate And Accumulated Depreciation
Real Estate And Accumulated Depreciation (details)
Real Estate And Accumulated Depreciation - Overall Summary And Encumbrances Reconciliation (details)
Real Estate Real Estate Acquisitions (details)
Real Estate Real Estate Dispositions (details)
Real Estate Real Estate Values (details)
Reportable Segments
Reportable Segments (details)
Reportable Segments (tables)
Share Incentive Plans
Share Incentive Plans (details 1)
Share Incentive Plans (details 2)
Share Incentive Plans (details Textuals)
Share Incentive Plans (details)
Share Incentive Plans (tables)
Subsequent Events/other
Subsequent Events/other (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies Compensation (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies Tax (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies Text (details)
Transactions With Related Parties
Transactions With Related Parties (details)
Ticker: EQR
CIK: 906107
Form Type: 10-K Annual Report
Accession Number: 0000906107-12-000004
Submitted to the SEC: Fri Feb 24 2012 3:14:15 PM EST
Accepted by the SEC: Fri Feb 24 2012
Period: Saturday, December 31, 2011
Industry: Real Estate Investment Trusts

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