Equity Residential

Management continues to recycle capital from older, slower growth assets into newer inventory and share repurchases.

In 2025 EQR sold 11 properties for roughly 1.1 billion dollars at a 5.4 percent yield, acquired nine for about 637 million dollars at a 5.1 percent cap, and repurchased about 300 million dollars of shares. 2026 guidance assumes deployment of about 200 million dollars more into buybacks.

Development is disciplined and joint venture heavy, limiting risk. Recurring capex of about 194 million dollars maintains asset quality, while NOI enhancing projects are sized to earn solid returns.