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Equity, Capital and Other Interests (Tables)
 9 Months Ended
Sep. 30, 2024
Class Of Stock [Line Items]  
Changes in Issued and Outstanding Common Shares and Units

The following table presents the changes in the Company’s issued and outstanding Common Shares and Units for the nine months ended September 30, 2024 and 2023:

 

 

2024

 

 

2023

 

Common Shares

 

 

 

 

 

 

Common Shares outstanding at January 1,

 

 

379,291,417

 

 

 

378,429,708

 

Common Shares Issued:

 

 

 

 

 

 

Conversion of OP Units

 

 

191,019

 

 

 

862,596

 

Exercise of share options

 

 

284,021

 

 

 

234,395

 

Employee Share Purchase Plan (ESPP)

 

 

54,061

 

 

 

48,835

 

Restricted share grants, net

 

 

186,672

 

 

 

148,304

 

Common Shares Other:

 

 

 

 

 

 

Repurchased and retired

 

 

(652,452

)

 

 

—

 

Common Shares outstanding at September 30,

 

 

379,354,738

 

 

 

379,723,838

 

Units

 

 

 

 

 

 

Units outstanding at January 1,

 

 

11,581,306

 

 

 

12,429,737

 

Restricted unit grants, net

 

 

172,667

 

 

 

166,344

 

Conversion of OP Units to Common Shares

 

 

(191,019

)

 

 

(862,596

)

Units outstanding at September 30,

 

 

11,562,954

 

 

 

11,733,485

 

Total Common Shares and Units outstanding at September 30,

 

 

390,917,692

 

 

 

391,457,323

 

Units Ownership Interest in Operating Partnership

 

 

3.0

%

 

 

3.0

%
Changes in Redemption Value of Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners

The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners for the nine months ended September 30, 2024 and 2023, respectively (amounts in thousands):

 

 

2024

 

 

2023

 

Balance at January 1,

 

$

289,248

 

 

$

318,273

 

Change in market value

 

 

64,541

 

 

 

(18,613

)

Change in carrying value

 

 

(1,986

)

 

 

(21,878

)

Balance at September 30,

 

$

351,803

 

 

$

277,782

 
Issued and Outstanding Preferred Shares and Preference Units

The following table presents the Company’s issued and outstanding Preferred Shares/Preference Units as of September 30, 2024 and December 31, 2023:

 

 

 

 

 

 

 

Amounts in thousands

 

 

 

 

 

Annual

 

 

 

 

 

 

 

 

 

Call

 

Dividend Per

 

 

September 30,

 

 

December 31,

 

 

 

Date (1)

 

Share/Unit (2)

 

 

2024

 

 

2023

 

Preferred Shares/Preference Units of beneficial interest, $0.01 par value;
   100,000,000 shares authorized:

 

 

 

 

 

 

 

 

 

 

 

8.29% Series K Cumulative Redeemable Preferred Shares/Preference
   Units; liquidation value $50 per share/unit; 343,100 shares/units issued
   and outstanding as of September 30, 2024 and 745,600 shares/units issued
   and outstanding as of December 31, 2023 (3)

 

12/10/2026

 

$

4.145

 

 

$

17,155

 

 

$

37,280

 

 

 

 

 

 

 

 

$

17,155

 

 

$

37,280

 

 

(1)
On or after the call date, redeemable Preferred Shares/Preference Units may be redeemed for cash at the option of the Company or the Operating Partnership, respectively, in whole or in part, at a redemption price equal to the liquidation price per share/unit, plus accrued and unpaid distributions, if any.
(2)
Dividends on Preferred Shares/Preference Units are payable quarterly.
(3)
During the nine months ended September 30, 2024, the Company repurchased and retired 402,500 Series K Preferred Shares/Preference Units with a liquidation value of approximately $20.1 million for total cash consideration of approximately $21.8 million, inclusive of premiums and accrued dividends through the redemption date. As a result of this partial redemption, the Company incurred a cash charge of approximately $1.4 million which was recorded as a premium on the redemption of Preferred Shares/Preference Units.
ERPOP [Member]  
Class Of Stock [Line Items]  
Changes in Issued and Outstanding Common Shares and Units

The following table presents the changes in the Operating Partnership’s issued and outstanding General Partner Units and Limited Partner Units for the nine months ended September 30, 2024 and 2023:

 

 

2024

 

 

2023

 

General and Limited Partner Units

 

 

 

 

 

 

General and Limited Partner Units outstanding at January 1,

 

 

390,872,723

 

 

 

390,859,445

 

Issued to General Partner:

 

 

 

 

 

 

Exercise of EQR share options

 

 

284,021

 

 

 

234,395

 

EQR’s Employee Share Purchase Plan (ESPP)

 

 

54,061

 

 

 

48,835

 

EQR’s restricted share grants, net

 

 

186,672

 

 

 

148,304

 

Issued to Limited Partners:

 

 

 

 

 

 

Restricted unit grants, net

 

 

172,667

 

 

 

166,344

 

General Partner Other:

 

 

 

 

 

 

OP Units repurchased and retired

 

 

(652,452

)

 

 

—

 

General and Limited Partner Units outstanding at September 30,

 

 

390,917,692

 

 

 

391,457,323

 

Limited Partner Units

 

 

 

 

 

 

Limited Partner Units outstanding at January 1,

 

 

11,581,306

 

 

 

12,429,737

 

Limited Partner restricted unit grants, net

 

 

172,667

 

 

 

166,344

 

Conversion of Limited Partner OP Units to EQR Common Shares

 

 

(191,019

)

 

 

(862,596

)

Limited Partner Units outstanding at September 30,

 

 

11,562,954

 

 

 

11,733,485

 

Limited Partner Units Ownership Interest in Operating Partnership

 

 

3.0

%

 

 

3.0

%