VMRK

VIVMARK RESIDENTIAL

Ticker: VMRKReal EstateREITsS&P 500
HQ CHICAGO, ILCIK 906107FY end 12-31Book / share $27.35Shares 385M
Revenue (FY)
$3.09B+3.82%
TTM $3.13B
Op. margin
28.11%-1.14%
Net income
$1.15B+7.56%
TTM $899.21M
Operating cash
$1.65B+4.78%
TTM $1.57B
Free cash flow
$1.30B+2.58%
TTM $1.20B
Return on equity
10.14%+0.77%
TTM 8.32%
Debt / equity
0.75+0.01%
TTM 0.79
Shares outstanding
390.4M-0.08%
TTM 384.5M

The business

Equity Residential (NYSE: EQR) is one of the largest publicly-traded owners and operators of high-quality rental apartment properties in the United States. The company operates through its umbrella partnership REIT structure, with Equity Residential serving as the general partner of ERP Operating Limited Partnership, which conducts substantially all of the company's multifamily property business and holds the vast majority of its assets. The company maintains its corporate headquarters in Chicago, Illinois and operates regional property management offices across its markets.

The company's portfolio is strategically concentrated in major coastal metropolitan areas including Boston, New York, Washington D.C., Southern California (Los Angeles, Orange County, and San Diego), San Francisco, and Seattle, complemented by targeted presence in Denver, Atlanta, Dallas/Fort Worth, and Austin. This geographic focus reflects the company's investment thesis centered on markets characterized by large and diverse economic drivers, elevated single-family home ownership costs that support rental demand, strong high-quality job growth particularly in STEM and professional services sectors, and significant apartment demand meeting new supply.

Equity Residential operates approximately 2,400 employees who deliver the company's core mission of creating communities where people thrive. The company's business model emphasizes balancing occupancy and rental rates to maximize revenue while maintaining tight cost control. The company pursues growth through a multi-pronged strategy featuring acquisitions, new stand-alone and expansion developments, densifying developments, and accretive renovations of existing properties. Development activity is conducted both through wholly-owned operations and strategic joint ventures with third-party developers.

The company leverages technology and innovation as competitive advantages, maintaining a history as an industry first-mover in areas such as online leasing and property technology deployment. The company utilizes standardized purchasing systems, business intelligence platforms, and data analytics to identify opportunities and improve operational efficiency. The company is committed to corporate responsibility, sustainability, and climate resilience, with dedicated programs addressing environmental impact, energy efficiency, water conservation, and climate risk mitigation across its portfolio. Additional information is available at www.equityapartments.com.

Sector
Real Estate
Industry
REITs
HQ
CHICAGO, IL
FY end
12-31
CIK
906107
SIC
6798
Financial performance · annual
20132025
$-448.01M$896.02M$2.24B$3.58B$4.93B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds VIVMARK RESIDENTIAL — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

615
funds hold it
0 of 35
superinvestors hold it
$10.08B
fund-held value
12
bond issues held by funds

Top fund holders

Fund% of fundValue
VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
1.25%$877.36M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.04%$808.03M
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.04%$600.13M
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.25%$551.47M
First Eagle Global Fund
SGENX · First Eagle Funds
0.54%$404.70M

Bonds held by funds

Funds report holding 12 issues of VIVMARK RESIDENTIAL's debt, $714.59M at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 3.72%, maturing 20262047.

IssueCouponMaturesFundsFund-held
ERP Operating LP4.650%2034-09-1561$114.95M
ERP Operating LP4.950%2032-06-1552$104.77M
ERP Operating LP4.150%2028-12-0146$91.71M
ERP OPERATING LP2.500%2030-02-1547$77.01M
ERP Operating LP3.000%2029-07-0149$75.86M
ERP Operating LP3.500%2028-03-0150$66.14M
ERP OPERATING LP1.850%2031-08-0135$63.01M
ERP Operating LP3.250%2027-08-0131$43.78M
ERP Operating LP4.500%2044-07-0141$32.15M
ERP Operating, L.P. 2.850%, Due 11/01/20262.850%2026-11-016$18.62M

The 10 largest by fund-held value, of 12.

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