shares of equity residential eqr rose 13 in morning trading to buck the weakness in its peer group and the broader stock market after the residential real estate investment trust reit raised its fullyear earnings outlook citing strong demand in new york the company said late tuesday that it now expects 2023 earnings per share of 202 to 212 up from previous guidance of 199 to 209 the company also raised its guidance ranges for normalized fund from operations ffo per share to 373 to 383 from 370 to 380 for yearoveryear samestore revenue growth to 55 to 625 from 45 to 60 and for net operating income noi growth to 60 to 70 from 475 to 625 but trimmed its outlook for samestore physical occupancy to 960 from 962 “his increase reflects continued strong demand across our markets particularly new york and lower than previously anticipated delinquency in southern california” said chief executive officer mark parrell “we are also benefiting from limited new apartment supply in most of our markets as well as the high prices and low availability of single family housing in these markets” the stock’s gain comes as the real estate select sector spdr exchangetraded fund xlre slipped 03 and the sp 500 spx fell 06