Equity Residential

Equity Residential

EQR
Equity ResidentialUS flagNew York Stock Exchange
67.34
USD
+0.69
- -
25.23BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6.74
7.24
7.55
6.65
6.73
7
7.29
6.92
6.59
7.27
7.59
7.87
8.15
8.22
Basic EPS, GAAP
5.16
1.74
2.38
11.75
1.64
1.78
2.61
2.45
3.56
2.06
2.2
2.73
2.95
2.51
Free Cash Flow per Basic Share
2.44
3.65
3.72
3.31
3.45
3.67
3.92
3.35
3.37
3.86
4.04
4.15
4.33
4.27
Dividend per Share
1.94
2.16
2.17
13.08
2.02
2.14
2.25
2.39
2.42
2.48
2.62
2.7
2.76
2.78
Book Value per Share
5.79
5.41
5.54
4.24
3.83
3.44
3.75
3.77
4.9
4.42
3.8
3.73
3.16
2.12
Tangible Book Value per Share
31.49
30.89
30.88
29.77
29.44
29.18
29.61
29.76
31.16
31
30.47
30.54
30.01
29.06
Basic Weighted Avg Shares
354
361
363
365
367
368
370
372
374
376
379
379
380
379
Sales/Revenue/Turnover
2,388
2,615
2,745
2,426
2,471
2,578
2,701
2,572
2,464
2,735
2,874
2,980
3,094
3,113
Operating Margin (%)
21.46
35.25
36.77
35.29
34.36
33.31
33.64
30.57
25.18
29.68
30.55
29.25
28.11
28.56
Depreciation Expense
1,014
762
769
709
748
790
843
832
851
894
902
967
1,023
1,014
Net Income, GAAP
1,831
631
870
4,292
603
658
970
914
1,333
777
835
1,036
1,120
954
Effective Tax Rate (%)
- -
0.21
0.1
0.04
0.08
0.13
- -
0.09
0.07
0.11
0.13
0.12
0.14
0.16
Profit Margin (%)
76.67
24.14
31.7
176.94
24.42
25.51
35.93
35.53
54.09
28.4
29.07
34.76
36.2
30.63
Working Capital
-356
-604
1,467
-202
-565
-755
-1,280
-721
-365
-400
-681
-821
-878
-1,073
LT Debt
10,651
10,512
10,534
8,967
8,658
8,319
8,350
7,959
8,339
7,605
7,293
7,883
7,893
7,895
Total Equity
11,208
11,209
11,263
10,903
10,841
10,779
11,008
11,102
11,686
11,701
11,578
11,584
11,409
11,022
Return on Invested Capital (%)
- -
4.18
4.56
4.07
4.28
4.35
- -
3.94
3.11
4.08
4.53
4.43
4.35
4.51
Return on Capital (%)
- -
7.78
9.3
36.68
8.65
9.6
- -
11.24
14.24
9.7
10.92
12.82
13.63
12.43
Return on Common Equity (%)
124.19
31.32
43.7
240.96
40.64
48.97
72.85
65.19
82.23
44.3
53.64
72.52
85.75
86.22

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
846
587
748
LT Borrowings
7,590
7,588
7,591
LT Finance Leases
305
305
304
Preferred Equity and Hybrid Capital
17
17
17
Shares Outstanding
381
378
375
Market Capitalization
24,570
23,930
22,401

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
200
159
139
Cash, Cash Equivalents & STI
93
56
35
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
1,325
1,037
1,212
Payables & Accruals
479
451
463
ST Debt
846
587
748
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.15%
0.58%
-1.51%
Free Cash Flow
2.32%
5.83%
4.67%
Net Income, GAAP
40.18%
8.76%
8.13%
Sales/Revenue/Turnover
1.39%
3.88%
3.82%
Total Cash Common Dividend
45.91%
3.44%
2.59%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
731
734
748
767
2,980
2025
761
769
782
782
3,094
2026
780
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.78
0.47
0.38
1.1
2.73
2025
0.68
0.51
0.76
1.01
2.95
2026
0.24
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.67
0.68
0.68
0.68
2.7
2025
0.68
0.69
0.69
0.7
2.76
2026
0.7
- -
- -
- -
- -

Company Description

MCPAPIChat
CEO
Mark J. Parrell
Full Time Employees
2,500
Sector
Real Estate
Industry
REIT - Residential
Address
Two North Riverside Plaza Chicago IL United States of America 60606
IPO Date
Aug 12, 1993
Business
Equity Residential (NYSE: EQR), an S&P 500 real estate investment trust founded in 1993 and headquartered in Chicago, Illinois, owns, develops, and manages high-quality multifamily apartment properties targeting affluent long-term renters in dynamic urban and high-density suburban markets; its portfolio encompasses 312 properties with 84,648 apartment units, primarily in core coastal gateway markets including Boston, New York, Washington, D.C., Seattle, San Francisco, and Southern California, alongside expanding operations in Denver, Atlanta, Dallas/Ft. Worth, and Austin. Core offerings include premium apartment rentals featuring modern unit finishes, extensive community amenities such as pools, fitness centers, and resident lounges, professional on-site management, maintenance services, and ancillary revenue streams from parking fees, storage rentals, pet fees, application fees, utility reimbursements, and furnished unit premiums. The company generates revenue through leasing to professionals and households in supply-constrained, high-growth regions with strong job and income demographics, leveraging data analytics, technology platforms, and operational scale for resident satisfaction, occupancy rates averaging 96%, and disciplined capital allocation across acquisition, redevelopment, and disposition activities. In recent developments, Equity Residential agreed in July 2024 to acquire 11 apartment properties totaling 3,572 units from Blackstone Real Estate strategies for approximately $964 million, focusing on eight-year-old assets in its expansion markets of Atlanta, Dallas/Ft. Worth, and Denver to accelerate net operating income growth; it further expanded in Q3 2025 with the purchase of a 375-unit property in Arlington, Texas, for $103 million, while continuing strategic portfolio refinement through sales of non-core assets and investments in newer developments.

Company News

MCPAPIChat
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  • Equity Residential (EQR) M&A Call Transcript

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  • $HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Equity Residential (NYSE: EQR)

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  • Apartment Owners AvalonBay and Equity Residential Near Deal to Combine

  • CPT Q1 FFO Beats Estimates Despite Lower Property Revenues

  • Equity Residential (EQR) Q1 2026 Earnings Call Transcript