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Equity Residential surprised its own executives with stronger-than-expected quarterly results. The Chicago-based apartment REIT posted a $177M profit in its second-quarter earnings report released after markets closed Monday. Revenue growth, at 2.9% more than the second quarter of the prior year, outpaced the 2.7% increase in expenses. Overall net operating income was up 3% year-over-year. “We are pleased to report results that exceeded our expectations and to be seeing positive forward momentum in our business,” CEO Mark Parrell said in a statement.