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Equity Residential (EQR) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Equity Residential

CIK: 906107 Ticker: EQR
                                            

Exhibit 99.1
                    
NEWS RELEASE - FOR IMMEDIATE RELEASE    

FEBRUARY 3, 2015

Equity Residential Reports Full Year 2014 Results
2014 Normalized FFO Per Share Increased 11.2%
2015 Normalized FFO Per Share Expected to Increase 7.3%
2015 Common Share Dividend Expected to Increase 10.5%

Chicago, IL - February 3, 2015 - Equity Residential (NYSE: EQR) today reported results for the quarter and year ended December 31, 2014. All per share results are reported as available to common shares on a diluted basis.

“2014 was another exceptional year for Equity Residential in which we delivered year over year growth in Normalized FFO per share of more than 11%, among the best years in our history,” said David J. Neithercut, Equity Residential’s President and CEO.  “Improving labor markets, robust household formation and declining single family home ownership levels will keep demand for rental housing high and produce above trend growth for many years to come.”

Fourth Quarter 2014
FFO (Funds from Operations), as defined by the National Association of Real Estate Investment Trusts (NAREIT), for the fourth quarter of 2014 was $0.87 per share compared to $0.67 per share in the fourth quarter of 2013. The difference is due primarily to higher prepayment penalties incurred in the fourth quarter of 2013 and the items described below.

For the fourth quarter of 2014, the company reported Normalized FFO of $0.86 per share compared to $0.77 per share in the same period of 2013. The following items impacted Normalized FFO per share in the quarter:

a positive impact of approximately $0.07 per share from higher same store net operating income (NOI) and approximately $0.02 per share from NOI from non-same store properties currently in lease-up;

a positive impact of approximately $0.01 per share from lower G&A expenses; and

a negative impact of approximately $0.01 per share due to dilution from the timing of the company’s 2014 transaction activity.

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. Reconciliations and definitions of FFO and Normalized FFO are provided on pages 6 and 28 of this release and the company has included guidance for Normalized FFO on page 27 and FFO on page 28 of this release.


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The following information was filed by Equity Residential (EQR) on Tuesday, February 3, 2015 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
Consolidated Statement Of Changes In Capital Of Erp Operating Limited Partnership
Consolidated Statement Of Changes In Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows Of Erp Operating Limited Partnership
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income Of Erp Operating Limited Partnership
Consolidated Statements Of Operations
Consolidated Statements Of Operations Of Erp Operating Limited Partnership
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 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 Other (details)
Deposits - Restricted
Deposits - Restricted (details)
Deposits - Restricted (tables)
Derivative And Other Fair Value Instruments
Derivative And Other Fair Value Instruments (details 1)
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 Interest Redeemable (details)
Equity, Capital And Other Interests
Equity, Capital And Other Interests (tables)
Equity, Capital And Other Interests Eqr Common Shares (details)
Equity, Capital And Other Interests Erp Units (details)
Equity, Capital And Other Interests Preferred (details)
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 (details 2)
Real Estate Real Estate (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 Compensation (details)
Summary Of Significant Accounting Policies Tax (details)
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: 0000906107-15-000007
Submitted to the SEC: Thu Feb 26 2015 4:08:36 PM EST
Accepted by the SEC: Thu Feb 26 2015
Period: Wednesday, December 31, 2014
Industry: Real Estate Investment Trusts

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