Vivmark Residential (VMRK)
Market Price (10/7/2026): $59.28 | Market Cap: $23.3 BilInvestor Relations Sector: Real Estate | Industry: Multi-Family Residential REITs
Vivmark Residential (VMRK)
Market Price (10/7/2026): $59.28Market Cap: $23.3 BilSector: Real EstateIndustry: Multi-Family Residential REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.5%, Dividend Yield is 4.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 5.8% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 54%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 44% Low stock price volatilityVol 12M is 21% Megatrend and thematic driversMegatrends include Niche Real Estate Investment. Themes include Residential Beneficial Interest Vehicles. | Weak multi-year price returns2Y Excs Rtn is -48%, 3Y Excs Rtn is -66% | Key risksVMRK key risks include [1] intense competition and potential oversupply in its highly sought-after metropolitan markets. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.5%, Dividend Yield is 4.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 5.8% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 54%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 44% |
| Low stock price volatilityVol 12M is 21% |
| Megatrend and thematic driversMegatrends include Niche Real Estate Investment. Themes include Residential Beneficial Interest Vehicles. |
| Weak multi-year price returns2Y Excs Rtn is -48%, 3Y Excs Rtn is -66% |
| Key risksVMRK key risks include [1] intense competition and potential oversupply in its highly sought-after metropolitan markets. |
Qualitative Assessment
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Updated on 10/1/2026
Vivmark Residential (VMRK) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Vivmark Residential reported significantly weaker profitability for fiscal Q2 2026 (ended June 30, 2026), with earnings per share (EPS) decreasing by 40.0% to $0.30 and net income falling by 40.7% to $114.1 million year-over-year. This disappointing performance, announced on July 22, 2026, weighed on investor sentiment. Further compounding this, analysts substantially reduced their EPS forecasts for fiscal Q3 2026 by 75.6%, from $0.79 to $0.19, over the preceding 12 months.
2. The "higher-for-longer" interest rate environment intensified, leading to elevated mortgage rates. The Federal Reserve increased the fed funds target rate by 0.25% in September 2026, bringing it to a range of 3.75% to 4.00%, with projections indicating no rate cuts for the remainder of 2026. Consequently, 30-year fixed mortgage rates remained high, averaging between 6.5% and 6.69% through fiscal Q3 2026, and by late September 2026, they approached 7.5%. These persistently high borrowing costs significantly impacted housing affordability and demand within the residential real estate market.
Show more
Vivmark Residential (VMRK) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Vivmark Residential reported significantly weaker profitability for fiscal Q2 2026 (ended June 30, 2026), with earnings per share (EPS) decreasing by 40.0% to $0.30 and net income falling by 40.7% to $114.1 million year-over-year. This disappointing performance, announced on July 22, 2026, weighed on investor sentiment. Further compounding this, analysts substantially reduced their EPS forecasts for fiscal Q3 2026 by 75.6%, from $0.79 to $0.19, over the preceding 12 months.
2. The "higher-for-longer" interest rate environment intensified, leading to elevated mortgage rates. The Federal Reserve increased the fed funds target rate by 0.25% in September 2026, bringing it to a range of 3.75% to 4.00%, with projections indicating no rate cuts for the remainder of 2026. Consequently, 30-year fixed mortgage rates remained high, averaging between 6.5% and 6.69% through fiscal Q3 2026, and by late September 2026, they approached 7.5%. These persistently high borrowing costs significantly impacted housing affordability and demand within the residential real estate market.
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Updated on 10/1/2026
Vivmark Residential (VMRK) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Vivmark Residential reported significantly weaker profitability for fiscal Q2 2026 (ended June 30, 2026), with earnings per share (EPS) decreasing by 40.0% to $0.30 and net income falling by 40.7% to $114.1 million year-over-year. This disappointing performance, announced on July 22, 2026, weighed on investor sentiment. Further compounding this, analysts substantially reduced their EPS forecasts for fiscal Q3 2026 by 75.6%, from $0.79 to $0.19, over the preceding 12 months.
2. The "higher-for-longer" interest rate environment intensified, leading to elevated mortgage rates. The Federal Reserve increased the fed funds target rate by 0.25% in September 2026, bringing it to a range of 3.75% to 4.00%, with projections indicating no rate cuts for the remainder of 2026. Consequently, 30-year fixed mortgage rates remained high, averaging between 6.5% and 6.69% through fiscal Q3 2026, and by late September 2026, they approached 7.5%. These persistently high borrowing costs significantly impacted housing affordability and demand within the residential real estate market.
3. A pronounced softening of the broader residential real estate market contributed to the stock's decline. During fiscal Q3 2026, national listing prices were down 2.4% year-over-year in June 2026, and asking prices experienced their steepest annual drop since 2017, declining by 2.5%. Existing home sales also pulled back 2.4% in June, with a total decline of 4.2% over the first half of 2026. Forecasts anticipate a 3.5% year-over-year decline in existing home sales for fiscal Q4 2026, with overall home price growth expected to remain flat in 2026, marking the weakest pace in 15 years.
4. Investor uncertainty following the recently completed merger between AvalonBay Communities and Equity Residential weighed on the stock. Vivmark Residential was officially formed when the merger closed on August 17, 2026. Despite an upgrade to an 'A' credit rating by S&P Global Ratings post-merger, the company's updated investor presentation in September 2026 maintained a full-year 2026 Same Store Residential revenue growth outlook of 2% at the midpoint, consistent with the prior standalone outlooks. This continuity, rather than an improved outlook, may have failed to alleviate investor concerns regarding immediate synergy realization and growth prospects for the newly combined entity amid a challenging market.
5. An analyst downgraded Vivmark Residential's price target, signaling reduced expectations. Around September 28, 2026, Evercore ISI Group trimmed its price target for VMRK from $72.00 to $70.00 per share. This revision by a prominent analyst likely contributed to negative investor sentiment and placed further downward pressure on the stock price.
Show less
Vivmark Residential (VMRK) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Vivmark Residential reported significantly weaker profitability for fiscal Q2 2026 (ended June 30, 2026), with earnings per share (EPS) decreasing by 40.0% to $0.30 and net income falling by 40.7% to $114.1 million year-over-year. This disappointing performance, announced on July 22, 2026, weighed on investor sentiment. Further compounding this, analysts substantially reduced their EPS forecasts for fiscal Q3 2026 by 75.6%, from $0.79 to $0.19, over the preceding 12 months.
2. The "higher-for-longer" interest rate environment intensified, leading to elevated mortgage rates. The Federal Reserve increased the fed funds target rate by 0.25% in September 2026, bringing it to a range of 3.75% to 4.00%, with projections indicating no rate cuts for the remainder of 2026. Consequently, 30-year fixed mortgage rates remained high, averaging between 6.5% and 6.69% through fiscal Q3 2026, and by late September 2026, they approached 7.5%. These persistently high borrowing costs significantly impacted housing affordability and demand within the residential real estate market.
3. A pronounced softening of the broader residential real estate market contributed to the stock's decline. During fiscal Q3 2026, national listing prices were down 2.4% year-over-year in June 2026, and asking prices experienced their steepest annual drop since 2017, declining by 2.5%. Existing home sales also pulled back 2.4% in June, with a total decline of 4.2% over the first half of 2026. Forecasts anticipate a 3.5% year-over-year decline in existing home sales for fiscal Q4 2026, with overall home price growth expected to remain flat in 2026, marking the weakest pace in 15 years.
4. Investor uncertainty following the recently completed merger between AvalonBay Communities and Equity Residential weighed on the stock. Vivmark Residential was officially formed when the merger closed on August 17, 2026. Despite an upgrade to an 'A' credit rating by S&P Global Ratings post-merger, the company's updated investor presentation in September 2026 maintained a full-year 2026 Same Store Residential revenue growth outlook of 2% at the midpoint, consistent with the prior standalone outlooks. This continuity, rather than an improved outlook, may have failed to alleviate investor concerns regarding immediate synergy realization and growth prospects for the newly combined entity amid a challenging market.
5. An analyst downgraded Vivmark Residential's price target, signaling reduced expectations. Around September 28, 2026, Evercore ISI Group trimmed its price target for VMRK from $72.00 to $70.00 per share. This revision by a prominent analyst likely contributed to negative investor sentiment and placed further downward pressure on the stock price.
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Stock Movement Drivers
Fundamental Drivers
The -10.1% change in VMRK stock from 6/30/2026 to 10/6/2026 was primarily driven by a -10.4% change in the company's Net Income Margin (%).| (LTM values as of) | 6302026 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 67.13 | 60.37 | -10.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,065 | 3,083 | 0.6% |
| Net Income Margin (%) | 37.2% | 33.3% | -10.4% |
| P/E Multiple | 22.9 | 23.1 | 0.5% |
| Shares Outstanding (Mil) | 390 | 393 | -0.7% |
| Cumulative Contribution | -10.1% |
Market Drivers
6/30/2026 to 10/6/2026| Return | Correlation | |
|---|---|---|
| VMRK | -10.1% | |
| Market (SPY) | 4.3% | 3.6% |
| Sector (XLRE) | -6.7% | 58.6% |
Fundamental Drivers
The 4.3% change in VMRK stock from 3/31/2026 to 10/6/2026 was primarily driven by a 6.8% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 57.85 | 60.37 | 4.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,041 | 3,083 | 1.4% |
| Net Income Margin (%) | 34.6% | 33.3% | -3.6% |
| P/E Multiple | 21.6 | 23.1 | 6.8% |
| Shares Outstanding (Mil) | 393 | 393 | 0.0% |
| Cumulative Contribution | 4.3% |
Market Drivers
3/31/2026 to 10/6/2026| Return | Correlation | |
|---|---|---|
| VMRK | 4.3% | |
| Market (SPY) | 20.1% | 2.0% |
| Sector (XLRE) | 1.5% | 61.8% |
Fundamental Drivers
The -2.4% change in VMRK stock from 9/30/2025 to 10/6/2026 was primarily driven by a -14.3% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.87 | 60.37 | -2.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,981 | 3,083 | 3.4% |
| Net Income Margin (%) | 38.9% | 33.3% | -14.3% |
| P/E Multiple | 21.2 | 23.1 | 8.9% |
| Shares Outstanding (Mil) | 397 | 393 | 1.2% |
| Cumulative Contribution | -2.4% |
Market Drivers
9/30/2025 to 10/6/2026| Return | Correlation | |
|---|---|---|
| VMRK | -2.4% | |
| Market (SPY) | 17.9% | 9.3% |
| Sector (XLRE) | 0.2% | 64.3% |
Fundamental Drivers
The 16.5% change in VMRK stock from 9/30/2023 to 10/6/2026 was primarily driven by a 40.6% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.81 | 60.37 | 16.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,701 | 3,083 | 14.2% |
| Net Income Margin (%) | 46.3% | 33.3% | -28.0% |
| P/E Multiple | 16.4 | 23.1 | 40.6% |
| Shares Outstanding (Mil) | 396 | 393 | 0.9% |
| Cumulative Contribution | 16.5% |
Market Drivers
9/30/2023 to 10/6/2026| Return | Correlation | |
|---|---|---|
| VMRK | 16.5% | |
| Market (SPY) | 88.5% | 39.0% |
| Sector (XLRE) | 32.6% | 76.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VMRK Return | 57% | -32% | 8% | 21% | -9% | -0% | 27% |
| Peers Return | 72% | -31% | 1% | 19% | -9% | -3% | 24% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 107% |
Monthly Win Rates [3] | |||||||
| VMRK Win Rate | 75% | 25% | 42% | 75% | 33% | 50% | |
| Peers Win Rate | 77% | 32% | 50% | 62% | 35% | 42% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| VMRK Max Drawdown | -7% | -36% | -22% | -11% | -19% | -15% | |
| Peers Max Drawdown | -11% | -35% | -26% | -13% | -22% | -16% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: UDR, CPT, UMH, BRT, VMRK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/6/2026 (YTD)
How Low Can It Go
| Event | VMRK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -12.2% | -18.8% |
| % Gain to Breakeven | 13.9% | 23.1% |
| Time to Breakeven | 23 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.0% | -9.5% |
| % Gain to Breakeven | 25.0% | 10.5% |
| Time to Breakeven | 177 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.2% | 7.1% |
| Time to Breakeven | 78 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.2% | -33.7% |
| % Gain to Breakeven | 64.4% | 50.9% |
| Time to Breakeven | 473 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -10.2% | -3.7% |
| % Gain to Breakeven | 11.4% | 3.9% |
| Time to Breakeven | 45 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.1% | -12.2% |
| % Gain to Breakeven | 12.4% | 13.9% |
| Time to Breakeven | 44 days | 62 days |
In The Past
Vivmark Residential's stock fell -12.2% during the 2025 US Tariff Shock. Such a loss loss requires a 13.9% gain to breakeven.
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Asset Allocation
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| Event | VMRK | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -39.2% | -33.7% |
| % Gain to Breakeven | 64.4% | 50.9% |
| Time to Breakeven | 473 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -21.6% | -17.9% |
| % Gain to Breakeven | 27.5% | 21.8% |
| Time to Breakeven | 179 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -53.5% | -53.4% |
| % Gain to Breakeven | 115.0% | 114.4% |
| Time to Breakeven | 292 days | 1085 days |
In The Past
Vivmark Residential's stock fell -12.2% during the 2025 US Tariff Shock. Such a loss loss requires a 13.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Vivmark Residential (VMRK)
Vivmark Residential (VMRK) is a prominent real estate investment company focused on the residential sector. The company specializes in the acquisition, development, and management of apartment properties, operating with a mission to create communities designed for people to thrive. Its core business revolves around providing high-quality rental housing, positioning itself as a landlord and property manager offering modern living spaces.
The company strategically invests in and operates properties located in and around dynamic U.S. cities known for attracting desirable, long-term renters. Vivmark Residential's extensive portfolio consists of 305 properties, encompassing 78,568 apartment units, situated in major markets such as Boston, New York, Washington, D.C., Seattle, San Francisco, Southern California, and Denver. Its primary customers are individuals and households seeking premium rental accommodations in vibrant urban and suburban environments.
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- Residential Apartment Rentals: Providing apartment units for lease to individuals and families across various desirable urban markets.
- Residential Property Management: Offering comprehensive management services for its portfolio of apartment communities, covering operations, maintenance, and tenant relations.
- Real Estate Investment & Development: Engaging in the acquisition and development of new residential properties to expand its portfolio of rental communities.
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Vivmark Residential (VMRK) primarily sells to individuals who rent apartments in its properties.
Based on the company's focus on residential properties in dynamic cities, its major customer categories can be described as:
- Young Professionals and Career-Focused Individuals: These renters are typically attracted to the urban locations for career opportunities, vibrant social scenes, and proximity to work and amenities. They seek modern, well-managed apartment units in desirable neighborhoods.
- Individuals or Couples Relocating to Major Metropolitan Areas: This category includes people moving to cities like Boston, New York, Seattle, or San Francisco for new jobs, educational pursuits, or lifestyle changes. They look for convenient, ready-to-move-into housing options in key urban centers.
- Established Urban Dwellers: This group comprises individuals or couples who prefer the convenience, services, and amenities of apartment living in prime city locations, often valuing a maintenance-free lifestyle and access to urban culture. This can include those downsizing or opting against homeownership.
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The key risks to Vivmark Residential's business are as follows:
1. Economic Downturns and Local Market Conditions
Vivmark Residential, which operates in and around dynamic cities, is highly susceptible to regional and broader economic fluctuations. Economic downturns, job losses, or shifts in population trends in its key markets (Boston, New York, Washington, D.C., Seattle, San Francisco, Southern California, and Denver) could lead to decreased demand for rental units. This would result in higher vacancy rates, lower rental income, and a potential decline in property values.
2. Interest Rate Fluctuations
As a real estate investment trust (REIT), Vivmark Residential likely utilizes debt to finance its extensive portfolio of properties and future developments. Increases in interest rates directly lead to higher borrowing costs, which can erode profit margins, reduce funds available for distribution to shareholders, and make new acquisitions or developments less financially attractive.
3. Competition and Oversupply of Residential Properties
The urban and suburban submarkets in which Vivmark Residential focuses are often highly competitive. An increase in the supply of new apartment units from competitors or aggressive pricing strategies by other residential property owners could lead to downward pressure on rental rates and occupancy levels. This intense competition could negatively impact the company's revenue growth and profitability.
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Vivmark Residential (VMRK) operates within the vast U.S. residential rental housing market, which was valued at an estimated $1.91 trillion in 2026. This market is projected to grow to $2.41 trillion by 2034, demonstrating a compound annual growth rate (CAGR) of 3% from 2026 to 2034.
Vivmark Residential's main products and services encompass the ownership, development, acquisition, and management of apartment communities. The company's portfolio includes more than 184,000 apartment homes across premier U.S. markets, with over $4.4 billion in active development.
The company focuses on leading metropolitan areas and expansion regions, including:
- Boston, Massachusetts: The average rent in Boston was around $3,400 per month as of August 2026, with approximately 179,867 renter-occupied housing units.
- New York, New York: The average rent in New York City was $3,700 per month as of August 2026. In 2023, New York City had 2,324,000 renter-occupied housing units.
- Washington, D.C.: The average rent in Washington, D.C., was $2,500 per month as of August 2026. The city has an estimated 207,400 potentially rental units.
- Seattle, Washington: As of August 2026, the average rent in Seattle was $2,123 per month, with more than 204,500 renter-occupied households.
- San Francisco, California: The average rent in San Francisco was $4,700 per month as of August 2026. The city experienced a 2.2% apartment vacancy rate by mid-2026.
- Southern California (general region): While specific overall market sizes for "Southern California" were not explicitly detailed, San Francisco's data provides insight into a significant California market.
- Denver, Colorado: The average rent in Denver was $1,995 per month as of August 2026, with 171,873 renter-occupied households.
- Dallas/Fort Worth, Texas: The median asking rent in the Dallas-Fort Worth-Arlington metro area was $2,350 per month as of July 2026.
- Atlanta, Georgia: The average rent in Atlanta was $2,100 per month as of August 2026.
These regions collectively represent a substantial portion of the overall U.S. residential rental market, which is Vivmark Residential's addressable market. The diverse economic and demographic characteristics of these metropolitan areas contribute to the significant demand for rental housing across the United States.
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Vivmark Residential (VMRK) is a public company formed from the merger of Equity Residential and AvalonBay Communities, specializing in the acquisition, development, and management of apartment communities across major U.S. markets. Over the next 2-3 years, the company's revenue growth is expected to be driven by several key factors:
- Strong Rent Growth and Price Increases: Vivmark Residential operates in high-demand metropolitan areas with favorable demographics, including job growth, income growth, and high single-family housing costs, which enable the company to maintain high occupancy rates and drive strong rental growth.
- Expansion and Development of New Properties: The company actively develops new communities, with 27 communities currently under development and one under redevelopment. This ongoing development pipeline, alongside strategic acquisitions, will expand its portfolio and add to its revenue-generating capacity. Vivmark Residential also has an expanding footprint in regions such as Raleigh-Durham, Charlotte, Southeast Florida, Dallas, Austin, and Denver.
- High Occupancy Rates and Operational Efficiency: Vivmark Residential emphasizes operational efficiency and asset management to drive occupancy and rental growth. Sustaining high occupancy across its extensive portfolio of apartment units is critical for maximizing rental income.
- Strategic Focus on High-Demand Metropolitan Areas: By concentrating its portfolio in densely populated, high-demand urban and coastal U.S. markets, Vivmark Residential benefits from robust economic conditions and a consistent demand for professionally managed housing. This strategic market selection supports sustained revenue growth by attracting high-quality, long-term renters.
- Enhanced Resident Experience and Services: The company aims to enhance the resident experience through operational improvements and innovative services. These enhancements can contribute to customer retention, attract new residents, and potentially support premium pricing, thereby driving revenue growth.
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Share Repurchases
- Vivmark Residential (VMRK) repurchased $280.7 million in shares during fiscal year 2025, marking a 629.6% increase from the prior year.
- For the first six months of 2026, VMRK spent approximately $219.4 million on repurchasing and retiring common shares.
- Quarterly share repurchases include $219.31 million as of March 31, 2026, $186.40 million as of December 31, 2025, and $94.26 million as of September 30, 2025.
Share Issuance
- As of June 30, 2026, Vivmark Residential had 374,893,890 common shares issued and outstanding, a decrease from 377,806,173 on December 31, 2025.
- The formation of Vivmark Residential through the merger of AvalonBay Communities and Equity Residential involved AvalonBay shareholders receiving 2.793 shares of Equity Residential common stock for each of their AvalonBay shares, with AvalonBay shareholders ultimately owning approximately 51.2% of the combined company.
Inbound Investments
- Vivmark Residential was formed through a merger of equals between Equity Residential and AvalonBay Communities, creating a new entity with an equity market capitalization of approximately $51 billion and an enterprise value of about $70 billion.
Outbound Investments
- Vivmark Residential spent $1.3 million on real estate acquisitions during the first half of 2026.
- The company committed $1.5 million to expand resident services across True Ground Housing Partners' portfolio in the Washington, D.C., metro area.
Capital Expenditures
- Vivmark Residential spent approximately $201 million on development and capital expenditures during the first half of 2026.
- The company has an active development pipeline valued at approximately $4.4 billion, with over 11,100 apartment units currently under construction.
Peer Outperformance in Multi-Family Residential REITs
VMRK has outperformed 83% of its 12 Multi-Family Residential REITs peers over 5Y. Multi-Family Residential REITs ranks 9th of 12 industries in Real Estate by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Multi-Family Residential REITs constituents that VMRK has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
77%
of 13 industry peers · 1.5% return
3Y
77%
of 13 industry peers · 15.4% return
5Y
83%
of 12 industry peers · -11.8% return
No Multi-Family Residential REITs peer with a comparable growth profile has beaten VMRK by more than 20pp over 5Y.
Median price return by industry across the Real Estate sector, ranked by 5Y. Multi-Family Residential REITs is VMRK's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 15 | 14.1% | 55.5% | 65.5% | WELL 207% · DHC 140% · CTRE 130% |
| Retail REITs | 22 | 8.1% | 38.2% | 25.4% | IVT 1462% · SKT 159% · SPG 96% |
| Other Specialized REITs | 11 | 5.0% | 23.7% | 19.4% | IRM 220% · LAMR 58% · OUT 51% |
| Real Estate Development | 6 | -13.9% | 18.2% | 14.0% | JOE 58% · AXR 36% · FOR 35% |
| Hotel & Resort REITs | 16 | 41.0% | 36.0% | 2.2% | HST 75% · RHP 67% · DRH 52% |
| Industrial REITs | 11 | 6.5% | 23.6% | 0.3% | EGP 28% · FR 26% · PLD 15% |
| Diversified REITs | 13 | 10.2% | 38.6% | -9.7% | CTO 70% · WPC 16% · LXP 14% |
| Single-Family Residential REITs | 4 | -2.3% | 0.3% | -17.2% | AMH -9% · ELS -16% · INVH -19% |
| Multi-Family Residential REITs ← | 13 | -4.4% | 4.6% | -23.1% | ESS -1% · BRT -7% · VMRK -12% |
| Real Estate Services | 25 | -23.4% | -11.3% | -33.1% | REAX 820% · CHCI 316% · MLP 52% |
| Office REITs | 18 | -14.2% | 31.2% | -34.9% | PSTL 66% · CDP 49% · HIW -6% |
| Telecom Tower REITs | 3 | -7.8% | -5.9% | -45.4% | AMT -27% · SBAC -45% · CCI -49% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 33.38 |
| Mkt Cap | 9.8 |
| Rev LTM | 1,568 |
| Op Inc LTM | 281 |
| FCF LTM | 322 |
| FCF 3Y Avg | 367 |
| CFO LTM | 807 |
| CFO 3Y Avg | 797 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.1% |
| Rev Chg 3Y Avg | 2.6% |
| Rev Chg Q | 1.3% |
| QoQ Delta Rev Chg LTM | 0.3% |
| Op Inc Chg LTM | 7.6% |
| Op Inc Chg 3Y Avg | 5.4% |
| Op Mgn LTM | 18.6% |
| Op Mgn 3Y Avg | 18.0% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 51.5% |
| CFO/Rev 3Y Avg | 51.1% |
| FCF/Rev LTM | 33.3% |
| FCF/Rev 3Y Avg | 34.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Same Store | 2,740 | 2,673 | 2,495 | 2,333 | 1,996 |
| Other Stabilized | 175 | 83 | 78 | 93 | 122 |
| Rental income from real estate assets sold or held for sale | 72 | 140 | 181 | 131 | 132 |
| Development / Redevelopment | 48 | 10 | 6 | 30 | 43 |
| Non-allocated | 7 | 7 | 8 | 6 | 3 |
| Total | 3,041 | 2,914 | 2,768 | 2,593 | 2,295 |
| $ Mil | 2007 | 2006 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|
| Established | 444 | 371 | 332 | ||
| Development/Redevelopment | 64 | 47 | |||
| Other Stabilized | 30 | 55 | 67 | ||
| Development/Redevelopment Communities | 56 | 44 | |||
| Established Communities | 298 | 305 | |||
| Other Stabilized Communities | 74 | 55 | |||
| Redeveloped Communities | 39 | ||||
| Total | 538 | 473 | 429 | 404 | 438 |
Price Behavior
Price Behavior
| Market Price | $60.37 | |
| Market Cap ($ Bil) | 23.7 | |
| First Trading Date | 08/12/1993 | |
| Distance from 52W High | -12.9% | |
| 50 Days | 200 Days | |
| DMA Price | $63.87 | $62.61 |
| DMA Trend | up | down |
| Distance from DMA | -5.5% | -3.6% |
| 3M | 1YR | |
| Volatility | 22.2% | 20.8% |
| Downside Capture | 79.55 | 5.54 |
| Upside Capture | -7.53 | 6.24 |
| Correlation (SPY) | 3.4% | 9.4% |
VMRK Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.49 | 0.54 | 0.04 | 0.03 | 0.15 | 0.55 |
| Up Beta | 0.10 | 0.55 | 0.10 | 0.03 | 0.33 | 0.59 |
| Down Beta | 0.12 | -0.70 | -0.61 | 0.10 | 0.26 | 0.62 |
| Up Capture | 23% | 33% | -9% | 4% | 2% | 17% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 11 | 22 | 31 | 64 | 128 | 396 |
| Down Capture | 137% | 131% | 59% | -5% | 8% | 77% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 11 | 19 | 31 | 60 | 121 | 353 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VMRK | |
|---|---|---|---|---|
| VMRK | -0.2% | 20.8% | -0.12 | - |
| Sector ETF (XLRE) | 0.3% | 14.1% | -0.22 | 64.3% |
| Equity (SPY) | 17.5% | 13.0% | 0.96 | 9.4% |
| Gold (GLD) | 6.9% | 29.6% | 0.23 | 1.6% |
| Commodities (DBC) | 46.1% | 20.8% | 1.71 | -8.9% |
| Real Estate (VNQ) | 2.1% | 13.7% | -0.10 | 63.6% |
| Bitcoin (BTCUSD) | -29.8% | 44.3% | -0.67 | 7.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VMRK | |
|---|---|---|---|---|
| VMRK | -1.7% | 22.8% | -0.13 | - |
| Sector ETF (XLRE) | 1.5% | 19.1% | -0.03 | 80.1% |
| Equity (SPY) | 13.9% | 17.1% | 0.62 | 50.0% |
| Gold (GLD) | 18.7% | 18.9% | 0.80 | 9.5% |
| Commodities (DBC) | 10.3% | 19.5% | 0.40 | 7.0% |
| Real Estate (VNQ) | 1.2% | 18.8% | -0.04 | 80.2% |
| Bitcoin (BTCUSD) | 16.0% | 52.2% | 0.47 | 17.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VMRK | |
|---|---|---|---|---|
| VMRK | 3.1% | 25.0% | 0.13 | - |
| Sector ETF (XLRE) | 5.6% | 20.4% | 0.23 | 81.1% |
| Equity (SPY) | 15.6% | 17.9% | 0.74 | 54.4% |
| Gold (GLD) | 11.6% | 16.4% | 0.58 | 6.3% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 14.5% |
| Real Estate (VNQ) | 4.2% | 20.7% | 0.16 | 81.9% |
| Bitcoin (BTCUSD) | 64.1% | 66.2% | 1.04 | 11.3% |
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Earnings Returns History
Updated 9/16/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | -0.0% | 0.8% | -4.6% |
| 4/28/2026 | 0.4% | 1.7% | 1.7% |
| 2/5/2026 | 3.4% | 2.1% | 0.7% |
| 10/28/2025 | -4.1% | -3.4% | 0.2% |
| 8/4/2025 | 1.2% | -0.6% | 3.2% |
| 4/29/2025 | 1.0% | 1.5% | 0.6% |
| 2/3/2025 | 0.4% | 0.8% | 4.7% |
| 10/30/2024 | -4.8% | -3.5% | 3.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 16 |
| # Negative | 12 | 14 | 8 |
| Median Positive | 1.4% | 2.1% | 2.9% |
| Median Negative | -2.9% | -2.3% | -4.0% |
| Max Positive | 4.4% | 5.7% | 21.7% |
| Max Negative | -6.9% | -10.0% | -14.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | -0.0% | 0.8% | -4.6% |
| 4/28/2026 | 0.4% | 1.7% | 1.7% |
| 2/5/2026 | 3.4% | 2.1% | 0.7% |
| 10/28/2025 | -4.1% | -3.4% | 0.2% |
| 8/4/2025 | 1.2% | -0.6% | 3.2% |
| 4/29/2025 | 1.0% | 1.5% | 0.6% |
| 2/3/2025 | 0.4% | 0.8% | 4.7% |
| 10/30/2024 | -4.8% | -3.5% | 3.7% |
| 7/29/2024 | -2.4% | -3.0% | 3.0% |
| 4/23/2024 | 2.4% | 2.1% | 5.0% |
| 1/30/2024 | 1.5% | -0.2% | 1.5% |
| 10/31/2023 | -3.9% | -2.7% | 2.7% |
| 7/27/2023 | -1.3% | -0.4% | -2.1% |
| 4/25/2023 | -0.4% | 3.1% | -1.5% |
| 2/9/2023 | 0.7% | 2.6% | -7.9% |
| 10/25/2022 | -3.6% | -4.5% | -5.6% |
| 7/26/2022 | 3.0% | 2.7% | 4.3% |
| 4/26/2022 | -3.4% | -10.0% | -14.4% |
| 2/1/2022 | 4.4% | -1.0% | -1.6% |
| 10/26/2021 | 1.3% | -1.8% | 2.1% |
| 7/27/2021 | -0.8% | -0.6% | -3.4% |
| 4/27/2021 | -1.0% | -2.8% | 2.7% |
| 2/10/2021 | 1.4% | -0.5% | 9.9% |
| 10/27/2020 | -6.9% | 5.7% | 21.7% |
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 16 |
| # Negative | 12 | 14 | 8 |
| Median Positive | 1.4% | 2.1% | 2.9% |
| Median Negative | -2.9% | -2.3% | -4.0% |
| Max Positive | 4.4% | 5.7% | 21.7% |
| Max Negative | -6.9% | -10.0% | -14.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 11/04/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
Recent Forward Guidance
Updated 8/24/2026Latest: Q2 2026 Earnings Reported 7/23/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Projected Opex change | Reported | 0.03 | 0.04 | 0.04 | ||||
| 2026 Projected NOI change | Reported | 0.01 | ||||||
| 2026 Projected revenue change | Reported | 0.01 | 0.02 | 0.02 | ||||
Prior: Q2 2026 Earnings Reported 7/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Physical Occupancy | Reported | 0.96 | ||||||
| 2026 Expense change | Reported | 0.03 | 0.04 | 0.04 | ||||
| 2026 NOI change | Reported | 0.02 | 0.02 | 0.02 | ||||
| 2026 Revenue change | Reported | 0.02 | 0.02 | 0.03 | ||||
Q1 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 FFO per share | Reported | 2.68 | 2.73 | 2.78 | -0.4% | Lower New | Guidance: 2.74 for Q1 2026 | |
| Q2 2026 Core FFO per share | Reported | 2.72 | 2.77 | 2.82 | -0.4% | Lower New | Guidance: 2.78 for Q1 2026 | |
| Q2 2026 EPS | Reported | 1.23 | 1.28 | 1.33 | -46.7% | Lower New | Guidance: 2.4 for Q1 2026 | |
| 2026 EPS | Reported | 5.92 | 6.17 | 6.42 | -6.2% | Lowered | Guidance: 6.58 for 2026 | |
Q4 2025 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 FFO per share | Reported | 2.69 | 2.74 | 2.79 | -2.5% | Lower New | Actual: 2.81 for Q4 2025 | |
| Q1 2026 Core FFO per share | Reported | 2.73 | 2.78 | 2.83 | -2.5% | Lower New | Actual: 2.85 for Q4 2025 | |
| Q1 2026 EPS | Reported | 2.35 | 2.4 | 2.45 | 95.1% | Higher New | Actual: 1.23 for Q4 2025 | |
| 2026 FFO per share | Reported | 10.8 | 11.05 | 11.3 | -3.2% | Lower New | Actual: 11.41 for 2025 | |
| 2026 Core FFO per share | Reported | 11 | 11.25 | 11.5 | 0 | Same New | Actual: 11.25 for 2025 | |
| 2026 Residential Opex change | Reported | 0.03 | 0.04 | 0.05 | 0 | Same New | Actual: 0.04 for 2025 | |
| 2026 Residential NOI change | Reported | -0.01 | 0 | 0.01 | -1.7% | Lower New | Actual: 0.02 for 2025 | |
| 2026 Residential revenue change | Reported | 0 | 0.01 | 0.02 | -1.1% | Lower New | Actual: 0.03 for 2025 | |
| 2026 EPS | Reported | 6.33 | 6.58 | 6.83 | -11.7% | Lower New | Actual: 7.45 for 2025 | |
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Multi-Family Residential REITs Resources |
| Multi-Housing News |
| Multifamily Executive |
| National Apartment Association |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 10/6/2026