Equity Residential (EQR) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Stand by. Good day and welcome to the Equity Residential 1Q2026 Earnings Conference Call and Webcast. Today's conference is being recorded. At this time, I would like to turn the conference over to Marty McKenna. Please go ahead. Good morning and thanks for joining us to discuss Equity Residential's first quarter 2026 results. Our featured speakers today are Mark Perel, our President and CEO, and Michael Manelis, our Chief Operating Officer. Brett McLeod, our TFO, and Bob Garachana, our Chief Investment Officer, are here with us as well for the Q&A. Our earnings release is posted in the investor section of equityapartments.com. Please be advised that certain matters discussed during this conference call may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to certain economic risks and uncertainties. The company assumes no obligation to update or supplement these statements that become untrue because of subsequent events. Now I will turn the call over to Mark Perel. Thank you, Marty. Good morning, and thank you all for joining us today to discuss our first quarter 2026 results. I will start us off, then Michael Manelis, our Chief Operating Officer, will speak to our first quarter operating performance, and then we'll go ahead and take your questions. Our first quarter operating results met our expectations with strength in San Francisco and New York. driving our same store revenue performance. These two markets share common elements of strong demand from our target higher earning renter demographic for our well-located apartment homes and low levels of new supply. So let me spend a few minutes now talking about why we are excited for the setup for our business in the back half of 2026...