Equity Residential (NYSE:EQR) Issues Earnings Results

Key Points

• Q1 miss but mixed results: EQR reported EPS of $0.24 versus a $0.29 consensus and revenue of $779.85M (vs. ~$783M), though revenue was up 2.5% YoY and margins remained healthy; the company updated FY2026 guidance to 4.020–4.140 EPS with Q2 guidance of 0.980–1.020.
• Dividend bump: The firm raised its quarterly dividend to $0.7025 (annualized $2.81), implying a ~4.3% yield while the payout ratio is elevated at 95.9%.
• Market and sentiment: shares traded up ~4.6% to $65.21 after the release; analysts’ average rating is a "Hold" with a $69.51 target, and insiders sold about 10,058 shares (~$655k) over the last quarter.

Equity Residential (NYSE:EQR - Get Free Report) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05), Zacks reports. The business had revenue of $779.85 million during the quarter, compared to analysts' expectations of $783.38 million. Equity Residential had a net margin of 36.20% and a return on equity of 9.98%. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. Equity Residential updated its FY 2026 guidance to 4.020-4.140 EPS and its Q2 2026 guidance to 0.980-1.020 EPS.

Equity Residential Trading Up 4.6%

Shares of EQR opened at $65.21 on Wednesday. Equity Residential has a fifty-two week low of $57.57 and a fifty-two week high of $72.40. The company has a market capitalization of $24.43 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 4.73 and a beta of 0.73. The stock has a fifty day moving average of $61.29 and a two-hundred day moving average of $61.48. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.31 and a current ratio of 0.31.

Equity Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Monday, March 30th were issued a $0.7025 dividend. This is a boost from Equity Residential's previous quarterly dividend of $0.69. The ex-dividend date was Monday, March 30th. This represents a $2.81 annualized dividend and a yield of 4.3%. Equity Residential's payout ratio is presently 95.90%.

More Equity Residential News

Here are the key news stories impacting Equity Residential this week:

• Positive Sentiment: Reported FFO/EPS beat consensus estimates — FFO topped expectations and was cited as stronger than Street forecasts, supporting the view that core apartment operations remain resilient. Equity Residential (EQR) Q1 FFO Top Estimates
• Positive Sentiment: Operating metrics show underlying strength — revenue was up ~2.5% year-over-year and the company reported a healthy net margin (~36%) and near-10% ROE, which supports longer-term cash flow durability. Press Release — First Quarter 2026 Results
• Neutral Sentiment: Guidance was updated and is mixed: FY 2026 EPS range (4.020–4.140) is roughly in line with consensus, while Q2 guidance (0.980–1.020) sits slightly below the Street midpoint — this gives analysts something to model but is not materially bearish on its face. Equity Residential Reports First Quarter 2026 Results
• Negative Sentiment: Revenue marginally missed consensus (reported $779.85M vs. est. ~$783M) and some per-share metrics showed year-over-year pressure in GAAP/FFO comparisons in portions of the release, highlighting near-term sensitivity to rents and leasing trends. Those elements temper the upbeat reaction and could cap further upside if trends slow. Compared to Estimates, Equity Residential (EQR) Q1 Earnings

Insider Transactions at Equity Residential

In other news, EVP Catherine Carraway sold 656 shares of Equity Residential stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $65.13, for a total value of $42,725.28. Following the completion of the sale, the executive vice president owned 18,339 shares of the company's stock, valued at $1,194,419.07. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael L. Manelis sold 5,765 shares of the company's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $65.13, for a total value of $375,474.45. Following the completion of the transaction, the chief operating officer owned 46,131 shares of the company's stock, valued at $3,004,512.03. The trade was a 11.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,058 shares of company stock worth $655,078 over the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equity Residential

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC grew its stake in shares of Equity Residential by 16.8% during the 4th quarter. Advisory Services Network LLC now owns 4,271 shares of the real estate investment trust's stock valued at $269,000 after buying an additional 613 shares during the period. Scientech Research LLC purchased a new position in shares of Equity Residential in the 3rd quarter worth $241,000. Brooklyn Investment Group boosted its holdings in Equity Residential by 25.1% in the third quarter. Brooklyn Investment Group now owns 3,624 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 727 shares during the last quarter. Insigneo Advisory Services LLC boosted its holdings in Equity Residential by 4.9% in the fourth quarter. Insigneo Advisory Services LLC now owns 3,543 shares of the real estate investment trust's stock valued at $223,000 after acquiring an additional 165 shares during the last quarter. Finally, Summit Securities Group LLC grew its position in Equity Residential by 403.2% during the fourth quarter. Summit Securities Group LLC now owns 3,014 shares of the real estate investment trust's stock valued at $190,000 after acquiring an additional 2,415 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on EQR. Royal Bank Of Canada cut their price objective on Equity Residential from $68.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Equity Residential in a research report on Tuesday, April 21st. Wells Fargo & Company boosted their price target on Equity Residential from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Thursday, April 23rd. Evercore reduced their price objective on Equity Residential from $70.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, April 6th. Finally, Scotiabank lifted their price objective on Equity Residential from $66.00 to $67.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $69.51.

Equity Residential Company Profile

Equity Residential NYSE: EQR is a publicly traded real estate investment trust that acquires, develops, owns and operates rental apartment properties. Headquartered in Chicago, the company focuses on delivering professionally managed, market-rate apartment homes and related services to renters. Its operations cover a range of property types, including high-rise and mid-rise assets, with amenities and on-site management designed to support resident retention and occupancy.

The company's core activities include property acquisitions, development and redevelopment, leasing, and day-to-day property management.