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Equity, Capital and Other Interests (Tables)
 9 Months Ended
Sep. 30, 2025
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, 2025 and 2024:

 

 

2025

 

 

2024

 

Common Shares

 

 

 

 

 

 

Common Shares outstanding at January 1,

 

 

379,475,383

 

 

 

379,291,417

 

Common Shares Issued:

 

 

 

 

 

 

Conversion of OP Units

 

 

2,211,299

 

 

 

191,019

 

Exercise of share options

 

 

85,217

 

 

 

284,021

 

Employee Share Purchase Plan (ESPP)

 

 

33,278

 

 

 

54,061

 

Restricted share grants, net

 

 

208,275

 

 

 

186,672

 

Common Shares Other:

 

 

 

 

 

 

Repurchased and retired

 

 

(1,466,818

)

 

 

(652,452

)

Common Shares outstanding at September 30,

 

 

380,546,634

 

 

 

379,354,738

 

Units

 

 

 

 

 

 

Units outstanding at January 1,

 

 

11,543,773

 

 

 

11,581,306

 

Restricted unit grants, net

 

 

297,077

 

 

 

172,667

 

Conversion of OP Units to Common Shares

 

 

(2,211,299

)

 

 

(191,019

)

Units outstanding at September 30,

 

 

9,629,551

 

 

 

11,562,954

 

Total Common Shares and Units outstanding at September 30,

 

 

390,176,185

 

 

 

390,917,692

 

Units Ownership Interest in Operating Partnership

 

 

2.5

%

 

 

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, 2025 and 2024, respectively (amounts in thousands):

 

 

2025

 

 

2024

 

Balance at January 1,

 

$

338,563

 

 

$

289,248

 

Change in market value (1)

 

 

(99,701

)

 

 

64,541

 

Change in book value (1)

 

 

(57,237

)

 

 

(1,986

)

Balance at September 30,

 

$

181,625

 

 

$

351,803

 

 

(1)
During the nine months ended September 30, 2025 and 2024, 1,912,056 and 4,398 redeemable OP Units, respectively, were converted to Common Shares. These conversions impacted both the change in market and book values.
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, 2025 and December 31, 2024:

 

 

 

 

 

 

 

Amounts in thousands

 

 

 

 

 

Annual

 

 

 

 

 

 

 

 

 

Call

 

Dividend Per

 

 

September 30,

 

 

December 31,

 

 

 

Date (1)

 

Share/Unit (2)

 

 

2025

 

 

2024

 

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, 2025 and December 31, 2024

 

12/10/2026

 

$

4.145

 

 

$

17,155

 

 

$

17,155

 

 

 

 

 

 

 

 

$

17,155

 

 

$

17,155

 

 

(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.
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, 2025 and 2024:

 

 

2025

 

 

2024

 

General and Limited Partner Units

 

 

 

 

 

 

General and Limited Partner Units outstanding at January 1,

 

 

391,019,156

 

 

 

390,872,723

 

Issued to General Partner:

 

 

 

 

 

 

Exercise of EQR share options

 

 

85,217

 

 

 

284,021

 

EQR’s Employee Share Purchase Plan (ESPP)

 

 

33,278

 

 

 

54,061

 

EQR’s restricted share grants, net

 

 

208,275

 

 

 

186,672

 

Issued to Limited Partners:

 

 

 

 

 

 

Restricted unit grants, net

 

 

297,077

 

 

 

172,667

 

General Partner Other:

 

 

 

 

 

 

OP Units repurchased and retired

 

 

(1,466,818

)

 

 

(652,452

)

General and Limited Partner Units outstanding at September 30,

 

 

390,176,185

 

 

 

390,917,692

 

Limited Partner Units

 

 

 

 

 

 

Limited Partner Units outstanding at January 1,

 

 

11,543,773

 

 

 

11,581,306

 

Limited Partner restricted unit grants, net

 

 

297,077

 

 

 

172,667

 

Conversion of Limited Partner OP Units to EQR Common Shares

 

 

(2,211,299

)

 

 

(191,019

)

Limited Partner Units outstanding at September 30,

 

 

9,629,551

 

 

 

11,562,954

 

Limited Partner Units Ownership Interest in Operating Partnership

 

 

2.5

%

 

 

3.0

%