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    Equity Residential (EQR)

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    Equity Residential (EQR) is a company focused on the acquisition, development, and management of multifamily residential properties, primarily generating income through leasing apartment units to residents . The company's operations are geographically evaluated by market and include both same store and non-same store properties, with residential operations accounting for the vast majority of its revenue . EQR also maintains a small non-residential presence, designed as an amenity for residents, contributing a minor portion to total revenues . The company strategically optimizes its portfolio by targeting dynamic cities that attract affluent long-term renters, expanding in markets like Denver, Atlanta, Dallas/Ft. Worth, and Austin, while maintaining a strong presence in established markets such as Boston, New York, Washington, D.C., Southern California, San Francisco, and Seattle .

    1. Residential Operations - Manages and leases multifamily residential properties, focusing on generating rental income from apartment units across various dynamic and established markets.
    2. Non-Residential Amenities - Provides non-residential spaces designed as amenities for residential residents, contributing a minor portion to the company's overall revenue.
    NamePositionExternal RolesShort Bio

    Alexander Brackenridge

    Executive

    Executive Vice President and Chief Investment Officer

    NMHC Member, ULI Member

    Advanced capital allocation strategy, improved portfolio quality, and led sustainability policy efforts.

    Barry S. Altshuler

    Executive

    Executive Vice President – Investments

    Real Estate Board of New York Executive Committee, University of Florida Real Estate Advisory Board, NMHC Member, ULI Member

    Significant role in investment strategies and asset management, former President of California Apartment Association.

    Catherine M. Carraway

    Executive

    Executive Vice President and Chief Human Resources Officer

    Co-Chair of All Stars-Chicago Board, Board Member of Connections for Abused Women and their Children

    Over two decades of HR leadership at EQR, shaping HR strategies and policies.

    Mark J. Parrell

    Executive

    Chief Executive Officer and President

    T. Rowe Price mutual funds Board Member, Real Estate Roundtable Board Member, Treasurer of Nareit, Advisory Board for Weiser Center for Real Estate, NMHC Member, Greater Chicago Food Depository Board Member

    Extensive experience in capital markets, capital allocation, and real estate finance. CEO since January 2019 and President since September 2018.

    View Report →

    Michael L. Manelis

    Executive

    Executive Vice President and Chief Operating Officer

    N/A

    Leads property operations, achieved $2.9 billion in revenues, and implemented data analytics processes.

    Robert A. Garechana

    Executive

    Executive Vice President and Chief Financial Officer

    N/A

    Oversees finance and accounting functions, managed refinancing of $800 million secured debt, and improved ESG reporting.

    Scott J. Fenster

    Executive

    Executive Vice President, General Counsel, and Corporate Secretary

    N/A

    Managed legal aspects of transactions, compliance, and capital markets activities, achieving high performance bonus targets.

    David J. Neithercut

    Board

    Chairman of the Board of Trustees

    Trustee of Americold Realty Trust, Lead Independent Trustee of Public Storage (until May 7, 2024)

    Leading industry authority in real estate investments, former CEO of EQR, and recipient of industry leadership awards.

    Stephen E. Sterrett

    Board

    Lead Trustee

    Chairman of Berry Global Group, Butler University Board of Trustees, First Tee Board Member

    Former CFO of Simon Property Group, responsible for board evaluations and shareholder communication.

    1. With your current preference for acquiring existing assets over development due to challenges like construction costs and funding issues, how do you plan to finance these acquisitions without negatively impacting shareholder value in a market where transaction volumes are increasing?
    2. In light of the significant supply pressures in your expansion markets such as Atlanta and Austin, how confident are you in your underwriting assumptions for rent recovery, and what risks do you foresee if supply levels remain elevated longer than expected?
    3. Given the substantial increase in advocacy costs related to regulatory challenges like rent control initiatives in California, how do you anticipate these regulatory pressures impacting your operations and financial performance, and what strategies are you implementing to address them?
    4. Considering the rising resident turnover and increased price sensitivity in markets like Southern California, how are you balancing rent growth with occupancy levels to maintain margins without driving residents to more affordable alternatives?
    5. With supply pressures expected to peak later this year in established markets like Seattle, how is this influencing your portfolio strategy, and what measures are you taking to mitigate potential impacts on occupancy and rent growth in these areas?
    Program DetailsProgram 1
    Approval DateN/A
    End Date/DurationMay 2025
    Total additional amount13.0 million shares
    Remaining authorization amount12,347,548 shares
    DetailsThe program is part of the company's capital allocation strategy, aiming to manage capital structure and enhance shareholder value. It is flexible, with no expiration date, and can be suspended or discontinued at any time.
    NameStart DateEnd DateReason for Change
    Ernst & Young LLP1996 PresentCurrent auditor

    Recent press releases and 8-K filings for EQR.

    Equity Residential Q1 2025 Results Exceed Expectations
    EQR
    Earnings
    Guidance Update
    New Projects/Investments
    • Strong operating performance with same-store revenue growth beyond expectations, 96.5% occupancy and a record low resident turnover of 7.9%, positioning the company well for the leasing season.
    • Guidance remains unchanged with plans for $1.5B in acquisitions and $1B in dispositions for 2025, despite economic uncertainty and evolving market conditions.
    • Consistent performance across key markets—such as D.C., Seattle, and San Francisco—and cautious monitoring of risks like rent control measures support a positive near-term outlook.
    1 hour ago
    Equity Residential Reports Q1 2025 Results
    EQR
    Earnings
    Guidance Update
    • Q1 2025 results showed an EPS of $0.67, FFO per share of $0.94, and Normalized FFO per share of $0.95, reflecting a 13% decrease in EPS and modest increases in FFO and Normalized FFO compared to Q1 2024.
    • The company achieved strong operational performance with same store revenue growth of 2.2%, and notable transaction activity including the sale of two properties (546 apartment units) for approximately $225.6M at a weighted average yield of 5.2%.
    • Q2 2025 guidance was provided, with EPS expected between $0.49 and $0.53, FFO per share between $0.95 and $0.99, and Normalized FFO per share between $0.96 and $1.00, driven by ongoing operational adjustments.
    2 days ago