Short answer
Equity Residential (EQR) filed its Q3 2025 10-Q quarterly report on Oct 30, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $782M (up 4.6% year over year) with net income of $289M.
Q3 2025 key financials · XBRL
- Revenue
- $782M
- +4.6% YoY · +1.8% QoQ
- Net income
- $289M
- +101.5% YoY · +50.3% QoQ
- EPS (diluted)
- $0.75
- +97.4% YoY · +47.1% QoQ
Source: XBRL data from the Equity Residential (EQR) Q3 2025 10-Q on SEC EDGAR. USD.
Equity Residential Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $2.31B, up 4.5% YoY; same store rental income $2.15B, up 2.6%
- Operating margin (NOI margin) approx. 67.1% vs 67.6% YoY; same store NOI increased 2.0% to $1.45B
- Best performing market: New York; 97.7% occupancy, $4,781 average rent; Worst: Other Expansion Markets; revenue down 3.6%, occupancy down 0.1%
- Operating cash flow $1.26B, up $42.3M YoY; invested $637.9M in acquisitions, disposed $589.1M properties, paid $811.6M dividends
- Management sees strong demand, stable fundamentals; notes weakness in Washington, D.C., ongoing challenges in Los Angeles; expects housing deficit tailwinds and resilient resident base
Risk Factors
- No material changes to risk factors since 2024 10-K carried forward
- Market risk from rent growth fluctuations affecting revenue stability
- Regulatory risk from compliance with evolving housing and zoning laws
- Operational risk from property management and maintenance expenses
- Financial risk of liquidity tied to debt maturities and capital market conditions
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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