公平住屋 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the quarterly period ended March 31, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the transition period fromtoCommission File Number: 1-12252 (Equity Residential)Commission File Number: 0-24920 (ERP Operating Limited Partnership)EQUITY RESIDENTIALERP OPERATING LIMITED PARTNERSHIP(Exact name of registrant as specified in its charter)Maryland(Equity Residential)13-3675988(Equity Residential)Illinois(ERP Operating Limited Partnership)36-3894853(ERP Operating Limited Partnership)(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)Two North Riverside Plaza, Chicago, Illinois 60606(312) 474-1300(Address of principal executive offices) (Zip Code)(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject tosuch filing requirements for the past 90 days. Equity Residential Yes☒No☐ ERP Operating Limited Partnership Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files). ERP Operating Limited Partnership Yes☒No☐ Equity Residential Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerginggrowth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐Emerging growth company☐l ERP Operating Limited Partnership: Large accelerated filer☐Non-accelerated filer☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ERP Operating Limited Partnership☐ Equity Residential☐ Equity Residential Yes☐No☒ ERP Operating Limited Partnership Yes☐No☒ The number of EQR Common Shares of Beneficial Interest, $0.01 par value, outstanding on April 24, 2026 was 374,671,735. EXPLANATORY NOTE This report combines the reports on Form 10-Q for the quarterly period ended March 31, 2026 of Equity Residential and ERPOperating Limited Partnership.Unless stated otherwise or the context otherwise requires, references to “EQR” mean EquityResidential, a Maryland real estate investment trust (“REIT”), and references to “ERPOP” mean ERP Operating LimitedPartnership, an Illinois limited partnership.References to the “Company,” “we,” “us” or “our” mean collectively EQR, ERPOPand those entities/subsidiaries owned or controlled by EQR and/or ERPOP.References to the “Operating Partnership” meancollectively ERPOP and those entities/subsidiaries owned or controlled by ERPOP. The following chart illustrates the Company’sand the Operating Partnership’s corporate structure: EQR is the general partner of, and as of March 31, 2026 owned an approximate 97.6% ownership interest in, ERPOP.Theremaining 2.4% interest is owned by limited partners.As the sole general partner of ERPOP, EQR has exclusive control ofERPOP’s day-to-day management.Management operates the Company and the Operating Partnership as one business.Themanagement of EQR consists of the same members as the management of ERPOP. The Company is structured as an umbrella partnership REIT (“UPREIT”) and EQR contributes all net proceeds from itsvarious equity offerings to ERPOP. In return for those contributions, EQR receives a number of OP Units (see definition below) inERPOP equal to the number of Common Shares it has issued in the equity offering.The Company may acquire properties intransactions that include the issuance of OP Units as consideration for the acquired properties.Such transactions may, in certaincircumstances, enable the sellers to defer in whole or in part, the recognition of taxable income or gain that might otherwise resultfrom the sales.This is one of the reasons why the Company is structured in the manner shown above.Based on the terms ofERPOP’s partnership agreement, OP Units can be exchanged with Common Shares on a one-for-one basis because the Companymaintains a one-for-one relationship between the OP Units of ERPOP issued to EQR and the outstanding Common Shares. The Company believes that combining