EQR
FY2026 Q1 · Calendar Q2 2026
Equity Residential
Equity Residential delivered Q1 2026 results that met revenue expectations but fell short on EPS, with same-store revenue strength concentrated in San Francisco and New York. The operating picture remains solid: occupancy at 96.3%, record-low turnover, renewal rates above 60%, and concessions down roughly 21% year-over-year. However, an EPS miss of approximately 15% and a slight revenue shortfall versus consensus temper the near-term narrative. Management's confident tone, a $165 million disposition plan, $220 million in quarterly share repurchases, and a favorable supply backdrop with new deliveries down about 35% year-over-year support a constructive medium-term outlook. Key risks include job-market uncertainty, rent-control proposals in Massachusetts and D.C., and slower leasing momentum in Boston, Seattle, and Los Angeles. The bullish score improved from 66 to 78 versus the prior…
EPS surprise-15.5%
Market move+0.4%
