Sam Zell’s Equity Residential was hit with a 58 percent decline in income in the third quarter, with urban flight severely impacting its apartment portfolio. The REIT’s net income in the third quarter was $95.4 million, down from $227.8 million in the same period last year, the company reported Wednesday. That’s a significant drop from the second quarter, when the company recorded $271.5 million in income. Its total revenue during the third quarter was $622.4
source https://therealdeal.com/2020/10/28/equity-residential-hit-with-58-decline-in-profits-in-q3/
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