Equity Residential Q3 same-store blended rate 3.5%, occupancy 96.0%

EQUITY RESIDENTIAL

Q3 2023 QTD blended lease rate change of 3.5%, down from Q2's 4.3%.
Physical occupancy at 96.0% (Q3 QTD) vs 95.9% in Q2.
Resident renewal rate fell to 53.0% in Q3 QTD from 57.0% in Q2.
Rents peaked in early August; expects moderation for remainder of 2023.
Same-store revenue growth remains on track with prior full-year guidance.

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