T. Rowe Price reports 5% Equity Residential (NYSE: EQR) stake

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. filed an amended ownership report showing it beneficially owns 18,897,902 shares of Equity Residential, representing 5.0% of the REIT’s outstanding class as of 12/31/2025. The firm reports sole voting power over 18,752,960 shares and sole dispositive power over 18,897,519 shares.

T. Rowe Price states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Equity Residential. The firm also expressly denies being the beneficial owner of the securities for certain legal purposes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

EQUITY RESIDENTIAL

(Name of Issuer)

REIT

(Title of Class of Securities)

29476L107

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 29476L107

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 18,752,960.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 18,897,519.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,897,902.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: EQUITY RESIDENTIAL
(b)	Address of issuer's principal executive offices: TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO, IL, 60606
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: REIT
(e)	CUSIP No.: 29476L107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 18897902
(b)	Percent of class: 5.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 18752960
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 18897519
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026

FAQ

What did T. Rowe Price disclose in the Equity Residential (EQR) Schedule 13G/A?

T. Rowe Price Associates, Inc. disclosed a significant ownership stake in Equity Residential. It reported beneficial ownership of shares representing 5.0% of the REIT’s outstanding class as of December 31, 2025, under an amended Schedule 13G/A filing.

How many Equity Residential (EQR) shares does T. Rowe Price beneficially own?

T. Rowe Price Associates, Inc. reports beneficial ownership of 18,897,902 Equity Residential shares. This stake equals 5.0% of the company’s REIT class as of December 31, 2025, according to the amended Schedule 13G/A filing.

What voting and dispositive powers does T. Rowe Price report over Equity Residential (EQR)?

T. Rowe Price reports sole voting power over 18,752,960 Equity Residential shares and sole dispositive power over 18,897,519 shares. The filing shows no shared voting or shared dispositive power over any shares in this REIT.

Is T. Rowe Price’s Equity Residential (EQR) stake intended to influence control of the company?

T. Rowe Price states the shares were acquired and are held in the ordinary course of business. It affirms they were not acquired and are not held to change or influence control of Equity Residential, consistent with a passive investment position.

Does T. Rowe Price admit beneficial ownership of Equity Residential (EQR) shares for all purposes?

T. Rowe Price expressly denies beneficial ownership of the Equity Residential securities for certain legal purposes. The firm states that this filing should not be construed as an admission that it is the beneficial owner of the reported shares.

Who signed the T. Rowe Price Schedule 13G/A for Equity Residential (EQR)?

The amended Schedule 13G/A was signed by Ellen York, Vice President of T. Rowe Price Associates, Inc. The signature certifies, after reasonable inquiry, that the information in the ownership statement is true, complete, and correct.