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Equity Residential Reports First Quarter 2026 Results
CHICAGO--(BUSINESS WIRE)--Equity Residential (NYSE: EQR) today reported results for the quarter ended March 31, 2026. First Quarter 2026 Results All per share r
About this update from Equity Residential
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--Equity Residential (NYSE: EQR) today reported results for the quarter ended March 31, 2026. First Quarter 2026 Results All per share results are reported as available to common shares/units on a diluted basis. Quarter Ended March 31, 2026 2025 $ Change % Change Earnings Per Share (EPS) $ 0.24 $ 0.67 $ (0.43 ) (64.2 %) Funds from Operations (FFO) per share $ 0.89 $ 0.94 $ (0.05 ) (5.3 %) Normalized FFO (NFFO) per share $ 0.99 $ 0.95 $ 0.04 4.2 % Expand Recent Highlights For the first quarter of 2026 compared to the first quarter of 2025, same store revenues increased 2.2%, same store expenses increased 3.7% and same store Net Operating Income (NOI) increased 1.4%. The Company's resident Turnover of 7.8% in the first quarter of 2026 was the lowest in its history. First quarter 2026 Blended Rate growth demonstrated a 130 basis point sequential improvement from the fourth quarter of 2025 to 1.5%. On a same store cash basis, Leasing Concessions in the first quarter of 2026 were down 21% versus the first quarter of 2025, reflecting continued improvement in leasing amidst declining supply in our markets. Compared to the first quarter of 2025, Physical Occupancy improved 10 basis points and Bad Debt, Net improved 10 basis points in the first quarter of 2026, reflecting solid demand and customer standing. As previously announced, during the first quarter of 2026, the Company repurchased and retired approximately 3.5 million of its common shares at a weighted average purchase price of $63.42 per share, for an aggregate purchased amount of approximately $219.4 million. During the first quarter of 2026, the Company increased the annual dividend on its common shares to $2.81 per share, a 1.4% increase over the 2025 annualized dividend. “We have gotten off to a solid start to 2026 and are well positioned entering the peak leasing season. Our substantial ex...