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Equity, Capital and Other Interests (Tables)
6 Months Ended
Jun. 30, 2023
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 six months ended June 30, 2023 and 2022:

 

 

2023

 

 

2022

 

Common Shares

 

 

 

 

 

 

Common Shares outstanding at January 1,

 

 

378,429,708

 

 

 

375,527,195

 

Common Shares Issued:

 

 

 

 

 

 

Conversion of OP Units

 

 

180,629

 

 

 

31,089

 

Exercise of share options

 

 

232,317

 

 

 

348,510

 

Employee Share Purchase Plan (ESPP)

 

 

40,346

 

 

 

35,669

 

Restricted share grants, net

 

 

149,722

 

 

 

175,970

 

Common Shares outstanding at June 30,

 

 

379,032,722

 

 

 

376,118,433

 

Units

 

 

 

 

 

 

Units outstanding at January 1,

 

 

12,429,737

 

 

 

12,659,027

 

Restricted unit grants, net

 

 

166,344

 

 

 

223,242

 

Conversion of OP Units to Common Shares

 

 

(180,629

)

 

 

(31,089

)

Units outstanding at June 30,

 

 

12,415,452

 

 

 

12,851,180

 

Total Common Shares and Units outstanding at June 30,

 

 

391,448,174

 

 

 

388,969,613

 

Units Ownership Interest in Operating Partnership

 

 

3.2

%

 

 

3.3

%

 

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 six months ended June 30, 2023 and 2022, respectively (amounts in thousands):

 

 

2023

 

 

2022

 

Balance at January 1,

 

$

318,273

 

 

$

498,977

 

Change in market value

 

 

39,123

 

 

 

(98,140

)

Change in carrying value

 

 

(2,077

)

 

 

(2,649

)

Balance at June 30,

 

$

355,319

 

 

$

398,188

 

Issued and Outstanding Preferred Shares and Preference Units

The following table presents the Company’s issued and outstanding Preferred Shares/Preference Units as of June 30, 2023 and December 31, 2022:

 

 

 

 

 

 

 

Amounts in thousands

 

 

 

 

 

Annual

 

 

 

 

 

 

 

 

 

Call

 

Dividend Per

 

 

June 30,

 

 

December 31,

 

 

 

Date (1)

 

Share/Unit (2)

 

 

2023

 

 

2022

 

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; 745,600 shares/units issued
   and outstanding as of June 30, 2023 and December 31, 2022

 

12/10/2026

 

$

4.145

 

 

$

37,280

 

 

$

37,280

 

 

 

 

 

 

 

$

37,280

 

 

$

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.
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 six months ended June 30, 2023 and 2022:

 

 

2023

 

 

2022

 

General and Limited Partner Units

 

 

 

 

 

 

General and Limited Partner Units outstanding at January 1,

 

 

390,859,445

 

 

 

388,186,222

 

Issued to General Partner:

 

 

 

 

 

 

Exercise of EQR share options

 

 

232,317

 

 

 

348,510

 

EQR’s Employee Share Purchase Plan (ESPP)

 

 

40,346

 

 

 

35,669

 

EQR’s restricted share grants, net

 

 

149,722

 

 

 

175,970

 

Issued to Limited Partners:

 

 

 

 

 

 

Restricted unit grants, net

 

 

166,344

 

 

 

223,242

 

General and Limited Partner Units outstanding at June 30,

 

 

391,448,174

 

 

 

388,969,613

 

Limited Partner Units

 

 

 

 

 

 

Limited Partner Units outstanding at January 1,

 

 

12,429,737

 

 

 

12,659,027

 

Limited Partner restricted unit grants, net

 

 

166,344

 

 

 

223,242

 

Conversion of Limited Partner OP Units to EQR Common Shares

 

 

(180,629

)

 

 

(31,089

)

Limited Partner Units outstanding at June 30,

 

 

12,415,452

 

 

 

12,851,180

 

Limited Partner Units Ownership Interest in Operating Partnership

 

 

3.2

%

 

 

3.3

%