Equity Residential sees 2026 FFO below estimates on weak rental demand

Reuters05:51

Equity Residential sees 2026 FFO below estimates on weak rental demand

Feb 5 (Reuters) - Equity Residential EQR.N forecast 2026 funds from operations below Wall Street estimates on Thursday amid weak demand for rental apartments as supply remains high.

The Chicago, Illinois-based real estate investment trust owns and operates over 85,000 apartment homes across the United States.

It posted a 4.7% fall in new leases in the fourth quarter. Its blended lease rate, which reflects a combination of both new leases and renewal rates, edged up only 0.5% during the same period.

Equity expects 2026 adjusted funds from operations — a key performance measure for REITs — between $4.02 and $4.14 per share, the midpoint of which is below analysts' expectations of $4.12 apiece, as per LSEG-compiled data.

For the quarter ended December 31, it reported normalized FFO of $1.03 per share, in line with Wall Street estimates.

Its fourth-quarter profit per share, on a diluted basis, came in at $1.00, down from $1.10 last year.

(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Alan Barona)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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