Equity Residential
Equity Residential 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… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Equity Residential does
In the company’s own words
Equity Residential 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.
Company details
- Sector
- Real Estate
- Industry (SIC)
- REITs
- Headquarters
- CHICAGO, IL
- Fiscal year end
- December
- CIK
- 906107
- SIC
- 6798
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Equity Residential — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Equity Residential’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Equity Residential’s bonds, as funds hold them
Funds report holding 12 issues of Equity Residential’s debt, $714.59M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 3.72%, maturing 2026 to 2047.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
Compare this company with peers, find it in your funds and follow its financial history with your connected AI:
- “How do Equity Residential and its peers compare on margins and cash generation over ten years?”
- “Where did five years of Equity Residential's earnings go — cash, debt, buybacks, reinvestment?”
- “What changed in Equity Residential's last four quarterly filings that the numbers alone won't show?”