EQR announces merger-of-equals with AvalonBay; net income falls 55% on disposition losses

Filed July 30, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2025 · ~2 min read

Key Changes

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  Merger with AvalonBay announced May 20, 2026 at 2.793 EQR shares per AvalonBay share, expected to close H2 2026 subject to shareholder approvals. Combined company will have 14-member board split evenly between legacy EQR and AvalonBay directors.

  MD&A: Pending Merger verify on EDGAR →
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  Net income fell 54.5% to $210.8M for H1 2026 from $463.6M prior year, driven by net loss on property sales versus prior-year gains, higher interest expense, and merger transaction costs.

  MD&A: Net Income verify on EDGAR →
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  EQR repurchased $219.4M of shares (3.5M shares at $63.42 average) in H1 2026 under its buyback program, reducing shares outstanding by ~0.9% and leaving 8.2M shares available for repurchase.

  Notes: Share Repurchase verify on EDGAR →