Equity, Capital and Other Interests (Tables)

9 Months Ended

Sep. 30, 2019

Changes in Issued and Outstanding Common Shares and Units

The following tables present the changes in the Company’s issued and outstanding Common Shares and “Units” (which includes OP Units and restricted units) for the nine months ended September 30, 2019 and 2018:

	2019			2018
Common Shares
Common Shares outstanding at January 1,		369,405,161			368,018,082
Common Shares Issued:
Conversion of OP Units		294,400			12,510
Exercise of share options		1,430,048			194,796
Employee Share Purchase Plan (ESPP)		37,263			61,321
Restricted share grants, net		160,460			122,877
Common Shares outstanding at September 30,		371,327,332			368,409,586
Units
Units outstanding at January 1,		13,904,035			13,768,438
Restricted unit grants, net		140,055			267,074
Conversion of OP Units to Common Shares		(294,400	)		(12,510	)
Units outstanding at September 30,		13,749,690			14,023,002
Total Common Shares and Units outstanding at September 30,		385,077,022			382,432,588
Units Ownership Interest in Operating Partnership		3.6	%		3.7	%

Changes in Redemption Value of Redeemable Noncontrolling Interests and Limited Partners Interest

The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership for the nine months ended September 30, 2019 and 2018 (amounts in thousands):

	2019		2018
Balance at January 1,	$	379,106	$	366,955
Change in market value		114,936		14,361
Change in carrying value		957		(77	)
Balance at September 30,	$	494,999	$	381,239

Issued and Outstanding Preferred Shares and Preference Units

The following table presents the Company’s issued and outstanding Preferred Shares as of September 30, 2019 and December 31, 2018:

				Amounts in thousands
		Annual
	Call	Dividend Per		September 30,		December 31,
	Date (1)	Share (2)		2019		2018
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized:
8.29% Series K Cumulative Redeemable Preferred; liquidation value $50 per share; 745,600 shares issued and outstanding as of September 30, 2019 and December 31, 2018	12/10/26	$	4.145	$	37,280	$	37,280
				$	37,280	$	37,280

(1)	On or after the call date, redeemable preferred shares may be redeemed for cash at the option of the Company, in whole or in part, at a redemption price equal to the liquidation price per share, plus accrued and unpaid distributions, if any.

(2)	Dividends on Preferred Shares are payable quarterly.

ERPOP [Member]

Class Of Stock [Line Items]

Changes in Issued and Outstanding Common Shares and Units

The following tables present the changes in the Operating Partnership’s issued and outstanding Units and in the limited partners’ Units for the nine months ended September 30, 2019 and 2018:

	2019			2018
General and Limited Partner Units
General and Limited Partner Units outstanding at January 1,		383,309,196			381,786,520
Issued to General Partner:
Exercise of EQR share options		1,430,048			194,796
EQR’s Employee Share Purchase Plan (ESPP)		37,263			61,321
EQR’s restricted share grants, net		160,460			122,877
Issued to Limited Partners:
Restricted unit grants, net		140,055			267,074
General and Limited Partner Units outstanding at September 30,		385,077,022			382,432,588
Limited Partner Units
Limited Partner Units outstanding at January 1,		13,904,035			13,768,438
Limited Partner restricted unit grants, net		140,055			267,074
Conversion of Limited Partner OP Units to EQR Common Shares		(294,400	)		(12,510	)
Limited Partner Units outstanding at September 30,		13,749,690			14,023,002
Limited Partner Units Ownership Interest in Operating Partnership		3.6	%		3.7	%

Changes in Redemption Value of Redeemable Noncontrolling Interests and Limited Partners Interest

The following table presents the changes in the redemption value of the Redeemable Limited Partners for the nine months ended September 30, 2019 and 2018 (amounts in thousands):

	2019		2018
Balance at January 1,	$	379,106	$	366,955
Change in market value		114,936		14,361
Change in carrying value		957		(77	)
Balance at September 30,	$	494,999	$	381,239

Issued and Outstanding Preferred Shares and Preference Units

The following table presents the Operating Partnership’s issued and outstanding “Preference Units” as of September 30, 2019 and December 31, 2018:

				Amounts in thousands
		Annual
	Call	Dividend Per		September 30,		December 31,
	Date (1)	Unit (2)		2019		2018
Preference Units:
8.29% Series K Cumulative Redeemable Preference Units; liquidation value $50 per unit; 745,600 units issued and outstanding as of September 30, 2019 and December 31, 2018	12/10/26	$	4.145	$	37,280	$	37,280
				$	37,280	$	37,280

(1)

On or after the call date, redeemable preference units may be redeemed for cash at the option of the Operating Partnership, in whole or in part, at a redemption price equal to the liquidation price per unit, plus accrued and unpaid distributions, if any, in conjunction with the concurrent redemption of the corresponding Company Preferred Shares.

(2)	Dividends on Preference Units are payable quarterly.