| EQR |
Report |
Q2'26 Normalized FFO/share |
IN-LINE |
pred ~$1.01 vs. cons $1.00 |
MEDIUM |
| EQR |
Report |
Q2'26 same-store revenue growth (YoY) |
IN-LINE |
pred ~+2.7% vs. cons +2.6% |
MEDIUM |
| EQR |
Report |
Q2'26 blended lease rate / new lease scorecard |
BEAT |
pred blended ~4.5% (new lease change ~flat) vs. cons ~4.0% |
MEDIUM |
| EQR |
Guide |
FY2026 Normalized FFO/share guidance |
BETTER |
guide ~$4.04-$4.14, mid ~$4.10 vs. cons $4.09 (FY2026) |
MEDIUM |
| EQR |
Guide |
FY2026 same-store revenue growth guidance |
BETTER |
guide midpoint raised to ~2.5% (from 2.2%) vs. cons ~2.4% (FY2026) |
LOW |
| EQR |
Guide |
FY2026 same-store expense growth guidance |
UNCHANGED |
guide ~3.0%-4.0%, mid ~3.5% vs. cons ~3.5% (FY2026) |
MEDIUM |
| EQR |
Return |
Day-1 residual (stock − beta × S&P 500) |
+1.0% |
— |
LOW |
| EQR |
Return |
5-day cumulative residual |
+0.3% (FADE) |
Base case is a modest beat plus a small FY NFFO/revenue guide raise driven by SF/NY strength and April blend acceleration (1.5%->3.0%), warranting an initial pop. But with the stock near cycle highs (~$68, +10% YTD, having already jumped ~4.5% on the Q1 print) expectations are elevated and much of the coastal/AI narrative is priced. New lease change is still only inflecting toward flat with expansion markets negative, so out-period estimate revisions are capped despite the bullish 2027 supply-cliff setup; analysts trim the back-half optimism and rate sensitivity plus profit-taking pull the day-1 gain back, leaving cumulative return roughly flat (fade). |
LOW |