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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Vivmark Residential (VMRK) is 5/10.
Equity Residential posted Q1 2026 same-store revenue growth of 2.5% with results meeting expectations, as San Francisco and New York continued to exceed already high expectations. Portfolio net effective pricing was up 4% since January, though Boston and Seattle started below expectations. Management maintained 2026 guidance unchanged at the same-store revenue midpoint of 2.5% and NFFO midpoint of $4.08, while the share buyback program reached $500M and development restarted with two Atlanta projects.
Scored from Vivmark Residential’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $767M | +5.4% | $1.10 | +37.5% | 63.8% | 62.2% | 54.7% | $278M |
| FY2025 Q1 | $761M | +4.1% | $0.67 | -13.0% | 61.7% | 59.3% | 33.7% | $359M |
| FY2025 Q2 | $769M | +4.7% | $0.50 | +11.1% | 63.1% | 29.4% | 25.0% | $274M |
| FY2025 Q3 | $782M | +4.6% | $0.74 | +94.7% | 63.4% | 29.0% | 36.9% | $374M |
| FY2025 Q4 | $789M | +2.9% | $1.00 | -9.1% | — | 28.3% | 48.4% | $282M |
| FY2026 Q1 | $780M | +2.5% | $0.24 | -64.2% | 61.3% | 27.4% | 11.6% | $335M |
| FY2026 Q2 | $785M | +2.1% | $0.30 | -40.0% | 61.4% | 27.9% | 14.5% | $184M |
On August 17, 2026, Equity Residential completed its previously announced merger of equals with AvalonBay Communities. AvalonBay merged into a subsidiary of ERP Operating Partnership and contributed assets in exchange for OP Units; the combined multifamily REIT operates under the name Vivmark. The all-stock combination closed mid-quarter.
Equity Residential filed unaudited pro forma financial statements for the previously announced May 20, 2026 all-stock merger of equals with AvalonBay Communities. Legacy AvalonBay stockholders are expected to own approximately 51% of the combined company and legacy Equity Residential shareholders approximately 49%. The filing states the transaction is a reverse acquisition: Equity Residential is the legal acquirer and AvalonBay the accounting acquirer. The combined company will operate as Vivmark Residential.