Equity Residential (EQR)
NYSE:EQR
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Earnings Data
Report Date
Jul 28, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.41Last Year’s EPS
0.5Same Quarter Last Year
Moderate Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a generally constructive operational picture driven by very strong performance in flagship gateway markets (San Francisco and New York), high occupancy (~96.3%), lower concession usage (~21% YoY reduction), improving blended rate momentum (Q1 blended +1.5% and ~130 bps sequential improvement), and active capital allocation ($500M of buybacks since Aug 2025 and $165M disposition guidance). Offsetting this optimism are underperformance and slower starts in specific markets (Boston, Seattle, parts of Southern California and newer Sunbelt expansion markets), ongoing expense headwinds (utilities, snow removal, liability insurance), continued elevated concessions in some expansion markets, regulatory risks (Massachusetts, D.C.), and competitive acquisition markets. On balance, management’s positive outlook for the back half of 2026 (declining new supply, improving demand signals, and momentum into peak leasing season) and clear operational progress lead to a favorable assessment.Company Guidance
High Occupancy and Improving Operating Momentum
Portfolio physical occupancy at 96.3% (described as >96%), with strong same-store revenue performance driven by San Francisco and New York. Management highlighted record low turnover and strong renewal activity tied to limited owned housing choices.
Blended Rate and Pricing Improvements
Reported blended rate growth of 1.5% in Q1 same-store; net effective prices up just over 4% since January 1. Sequential improvement vs Q4 2025 of ~130 basis points in blended rates, including a 260 basis point lift in new lease change and a 30 basis point improvement in achieved renewal rate increases.
Strong Retention / Renewal Performance
Centralized renewal strategy delivered 61% resident renewal rate with an achieved renewal rate increase of 4.7% (management expects to achieve renewal increases around ~5% going forward and renewal quotes just over 6%).
Reduced Concessions and Better Collections
Concession use down roughly 21% portfolio-wide vs Q1 prior year (Seattle down ~22% specifically). Delinquency and bad debt improved (bad debt better by ~10 basis points), supporting cash flow and pricing momentum.
Geo Concentration in High-Performing Gateways
New York and San Francisco accounted for ~30% of NOI and outperformed expectations; San Francisco downtown submarket (~22% of NOI) reported virtually no concessions and very limited new competitive supply in 2026.
Capital Allocation Actions — Buybacks & Dispositions
Repurchased $220M of common shares in Q1, bringing total repurchases to $500M since August 2025. Management introduced disposition guidance of $165M (targeting older, capital‑intensive or concentrated assets) and remains open to further buybacks and disciplined deployment of capital.
Technology & Operational Initiatives
Full deployment of AI-assisted application/screening ~6 months in; bulk Internet program rollout planned to reach ~60% of portfolio by year-end. Management expects tech and centralization to support collection, screening and reduce future leasing/marketing costs.
EQR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
EQR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2026 | $65.15 | $65.43 | +0.43% |
Feb 05, 2026 | $61.03 | $63.13 | +3.43% |
Sep 30, 2025 | $63.25 | $62.64 | -0.97% |
Jun 30, 2025 | $65.25 | $65.03 | -0.34% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Equity Residential (EQR) report earnings?
Equity Residential (EQR) is schdueled to report earning on Jul 28, 2026, After Close (Confirmed).
What is Equity Residential (EQR) earnings time?
Equity Residential (EQR) earnings time is at Jul 28, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EQR EPS forecast?
EQR EPS forecast for the fiscal quarter 2026 (Q2) is 0.41.