Quarterly ResultApr 28, 2026, 04:43 PM
EQR Q1 Normalized FFO $0.99; Same Store NOI +1.4%; Dividend +1.4%
AI Summary
Equity Residential reported its first quarter 2026 results, with Normalized FFO per share increasing 4.2% year-over-year to $0.99. Same store Net Operating Income (NOI) grew by 1.4%, driven by strong performance in San Francisco and New York markets, and the company achieved its lowest resident turnover in history. The company also repurchased $219.4 million of its common shares and increased its annual dividend by 1.4% to $2.81 per share.
Key Highlights
- Normalized FFO per share was $0.99, up 4.2% year-over-year.
- FFO per share was $0.89, down 5.3% year-over-year.
- EPS was $0.24, down 64.2% year-over-year, primarily due to lower property sale gains.
- Same store Net Operating Income (NOI) increased 1.4% year-over-year.
- Same store revenues increased 2.2% and expenses increased 3.7% year-over-year.
- Repurchased 3.5 million common shares for approximately $219.4 million.
- Increased annual dividend by 1.4% to $2.81 per share.
- Q2 2026 Normalized FFO guidance is $0.98 to $1.02 per share.