Equity Residential (EQR), an Illinois-based mREIT, reported a drop in profit for the fourth quarter, which ended on December 31, 2025.
The company reported net income for the fourth quarter of $381 million or $1 per share, a decrease from $418 million or $1.1 per share in the same quarter last year.
Funds From Operations or FFO was $376 million or $0.97 per share, a slight decrease from $379 million or $0.97 per share, and normalized FFO or NFFO increased 3 percent year over year to $399 million or $1.03 per share, from $392 million or $1 per share last year.
For the full year 2025, EQR reported net income of $1.11 billion or $2.94 per share, up from $1.03 billion or $2.72 per share in 2024. Funds From Operations or FFO was $1.53 billion or $3.94 per share, an increase from $1.46 billion or $3.76 per share, while normalized FFO, or NFFO, rose 2.6 percent year over year to $1.55 billion or $3.99 per share, a mild jump from $1.52 billion or $3.89 per share in 2024.
In 2025, same-store revenue rose 2.6 percent and NOI increased 2.2 percent, while the company achieved record resident retention. For 2026, it expects same-store revenue growth of 1.2 percent to 3.2 percent and NOI growth of 0.5 percent to 2.5 percent.
For 2026, the company expects earnings to be guided at $1.44 to $1.56 per share, while FFO per share is projected at $3.98 to $4.10 and normalized FFO at $4.02 to $4.14 per share, reflecting low-single-digit growth.
Thursday, EQR closed at $61.77, 2.08% lower on the NYSE.
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