Equity Residential forecasts second-quarter FFO below estimates

Vivmark Residential

28/04/2026 22:34

April 28 (Reuters) - Equity Residential EQR.N forecast second-quarter funds from operations below Wall Street estimates on Tuesday as demand for rental apartments remained weak and supply stayed high.

The Chicago, Illinois-based company's results come as U.S. apartment landlords operate in a tougher market, with a wave of new buildings competing for tenants and slowing rent growth, while rising costs and higher interest rates weigh on the sector.

Shares of the company were down 1.7% after the bell.

The real estate investment trust expects second-quarter adjusted FFO in the range of 98 cents to $1.02 per share, the midpoint of which is below analysts' estimates of $1.02, according to data compiled by LSEG.

Equity Residential's quarterly profit fell to 24 cents per share compared with 67 cents per share a year earlier.

Its first-quarter adjusted FFO came in at 99 cents, compared with analysts' estimates of 98 cents.

Quarterly revenue rose to $779.8 million compared with $760.8 million a year earlier.

 (Reporting by Megha Kumari and Parth Chandna in Bengaluru; Editing by Tasim Zahid)

 ((Megha.Kumari@thomsonreuters.com;))