US REITs and Lodging: KPI Tracker: Looking at Residential REIT KPIs into 2Q26 Earnings

Research evidence excerpt

US REITs and Lodging: KPI Tracker: Looking at Residential REIT KPIs into 2Q26 Earnings

ysical occupancy of 96.3%. During

EQR

we thought. So we love the setup heading into the peak leasing season. We love the supply picture in the back- the quarter, we also saw improvements in bad debt, and the financial

half of the year, but at this point it's still probably too early in the year for us to change that full-year outlook for health of our resident base remains very supportive." 1Q26 Call

the blends." 1Q26 Call

"We're on plan as it relates to our [blended rate growth] guidance. And so if you look at first quarter coming in at "Heading into peak leasing season, we have shifted our operating strategy

1.4% and April is already north of 3%, it's – we don't anticipate challenges to hitting that 2.5% for the year. And to driving rent growth across most markets, and our portfolio is well-

ESS

we – at this point, we're still anticipating that first half and second half are pretty similar to each other. And so positioned with April financial occupancy at 96.4% and blended lease rate

things are on plan." 1Q26 Call growth north of 3%." 1Q26 Call

"Blended rent growth of 70 basis points for the first quarter was in line with the trajectory of our full-year "Our recent strategy of prioritizing occupancy now positions us to prioritize

guidance assumption of 1.7%. Renewal rate growth of 3.2% and resident retention of 60.5% were also in line rental rate growth during the upcoming leasing season. Concession activity

IRT

with our expectations. April and May renewal trade-outs are tracking modestly ahead of plan at approximately has started to moderate but is still elevated compared to historical levels."

4%, and retention has remained steady." 1Q26 Call 1Q26 Call