Equity Residential reports Q2 2026 results, raises same-store guidance amid pending AvalonBay merger

Filed July 22, 2026 · Period ending July 22, 2026 · ~1 min read

Key Changes

• high

  EQR and AvalonBay announced a definitive all-stock merger of equals on May 21, 2026, creating a combined company with ~$53B equity market cap, ~$71B enterprise value, and 180,000+ rental apartments; shareholder meetings scheduled for August 12, 2026.

  Exhibit 99.1 view on EDGAR →
• high

  Q2 2026 Normalized FFO per share rose 3.0% year-over-year to $1.02, driven by same-store NOI growth and lease-up contributions, partially offset by higher interest expense; EPS fell 40.0% to $0.30 due to lower property sale gains.

  Exhibit 99.1 view on EDGAR →
• high

  Full-year 2026 same-store guidance raised: revenue growth midpoint increased 20 basis points to 2.4%, NOI growth midpoint up 30 basis points to 1.8%, reflecting strong San Francisco market momentum and better bad debt performance.

  Exhibit 99.1 view on EDGAR →