Equity Residential

“if I'm comparing it to EQR is extraordinarily low, 8% number for the first quarter”

An analyst benchmarks Essex's 35% first-quarter turnover against Equity Residential's much lower reported 8% turnover figure, prompting Essex management to explain differing turnover/lease-rate definitions between the two REITs.

“were recognized by S&P in November 2025 with a positive outlook”

S&P placed a positive outlook on Equity Residential in November 2025, reflecting balance-sheet strength.

“we have about 3% of our units that had residents employed at Amazon at the time they moved in with us”

Equity Residential quantified its exposure to announced Amazon layoffs, noting ~3% of units had Amazon-employed residents at move-in, concentrated in Seattle/South Lake Union. Read-through: Amazon's white-collar layoffs are broad but dispersed, with 90-day internal transfer windows and severance.

“The return to office from Amazon has been a positive for the market.”

Amazon's return-to-office mandate is cited as a demand tailwind for Equity Residential's Seattle apartment portfolio.

“We also are feeling really good about Seattle in 2025. Despite heightened pockets of supply, particularly in the Urban Core and Redmond, some margin, we finished 2024 in a strong position and look to have increasing pricing power resulting from continued demand as employers like Amazon bring their teams back to the office and supply begins to abate in the second half of this year.”

Amazon's return-to-office push is cited as a driver of continued rental demand strength in Equity Residential's Seattle-market portfolio for 2025.

“you might see it in Q3 and Q4 are the quarterly set because we bought the assets like from the Blackstone portfolio and did most of our transaction activity in the back half of 2024.”

Equity Residential bought an approximately $1 billion apartment portfolio from Blackstone in August 2024, adding roughly 2 percentage points to its expansion-market NOI exposure.