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Equity, Capital and Other Interests (Tables)
12 Months Ended
Dec. 31, 2019
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 years ended December 31, 2019, 2018 and 2017:

 

 

 

2019

 

 

2018

 

 

2017

 

Common Shares

 

 

 

 

 

 

 

 

 

 

 

 

Common Shares outstanding at January 1,

 

 

369,405,161

 

 

 

368,018,082

 

 

 

365,870,924

 

Common Shares Issued:

 

 

 

 

 

 

 

 

 

 

 

 

Conversion of OP Units

 

 

313,940

 

 

 

131,477

 

 

 

1,149,284

 

Exercise of share options

 

 

1,745,050

 

 

 

1,056,388

 

 

 

846,137

 

Employee Share Purchase Plan (ESPP)

 

 

48,131

 

 

 

75,414

 

 

 

68,286

 

Restricted share grants, net

 

 

158,602

 

 

 

123,800

 

 

 

83,451

 

Common Shares outstanding at December 31,

 

 

371,670,884

 

 

 

369,405,161

 

 

 

368,018,082

 

Units

 

 

 

 

 

 

 

 

 

 

 

 

Units outstanding at January 1,

 

 

13,904,035

 

 

 

13,768,438

 

 

 

14,626,075

 

Restricted unit grants, net

 

 

141,220

 

 

 

267,074

 

 

 

291,647

 

Conversion of OP Units to Common Shares

 

 

(313,940

)

 

 

(131,477

)

 

 

(1,149,284

)

Units outstanding at December 31,

 

 

13,731,315

 

 

 

13,904,035

 

 

 

13,768,438

 

Total Common Shares and Units outstanding at December 31,

 

 

385,402,199

 

 

 

383,309,196

 

 

 

381,786,520

 

Units Ownership Interest in Operating Partnership

 

 

3.6

%

 

 

3.6

%

 

 

3.6

%

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 years ended December 31, 2019, 2018 and 2017, respectively (amounts in thousands):

 

 

2019

 

 

2018

 

 

2017

 

Balance at January 1,

 

$

379,106

 

 

$

366,955

 

 

$

442,092

 

Change in market value

 

 

82,283

 

 

 

13,922

 

 

 

(41,916

)

Change in carrying value

 

 

2,011

 

 

 

(1,771

)

 

 

(33,221

)

Balance at December 31,

 

$

463,400

 

 

$

379,106

 

 

$

366,955

 

 

Issued and Outstanding Preferred Shares and Preference Units

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

 

 

 

 

 

 

 

 

 

Amounts in thousands

 

 

 

 

 

Annual

 

 

 

 

 

 

 

 

 

 

 

Call

 

Dividend Per

 

 

December 31,

 

 

December 31,

 

 

 

Date (1)

 

Share/Unit (2)

 

 

2019

 

 

2018

 

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 December 31, 2019 and 2018

 

12/10/26

 

$

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]  
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 years ended December 31, 2019, 2018 and 2017:

 

 

 

2019

 

 

2018

 

 

2017

 

General and Limited Partner Units

 

 

 

 

 

 

 

 

 

 

 

 

General and Limited Partner Units outstanding at January 1,

 

 

383,309,196

 

 

 

381,786,520

 

 

 

380,496,999

 

Issued to General Partner:

 

 

 

 

 

 

 

 

 

 

 

 

Exercise of EQR share options

 

 

1,745,050

 

 

 

1,056,388

 

 

 

846,137

 

EQR’s Employee Share Purchase Plan (ESPP)

 

 

48,131

 

 

 

75,414

 

 

 

68,286

 

EQR’s restricted share grants, net

 

 

158,602

 

 

 

123,800

 

 

 

83,451

 

Issued to Limited Partners:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted unit grants, net

 

 

141,220

 

 

 

267,074

 

 

 

291,647

 

General and Limited Partner Units outstanding at December 31,

 

 

385,402,199

 

 

 

383,309,196

 

 

 

381,786,520

 

Limited Partner Units

 

 

 

 

 

 

 

 

 

 

 

 

Limited Partner Units outstanding at January 1,

 

 

13,904,035

 

 

 

13,768,438

 

 

 

14,626,075

 

Limited Partner restricted unit grants, net

 

 

141,220

 

 

 

267,074

 

 

 

291,647

 

Conversion of Limited Partner OP Units to EQR Common Shares

 

 

(313,940

)

 

 

(131,477

)

 

 

(1,149,284

)

Limited Partner Units outstanding at December 31,

 

 

13,731,315

 

 

 

13,904,035

 

 

 

13,768,438

 

Limited Partner Units Ownership Interest in Operating Partnership

 

 

3.6

%

 

 

3.6

%

 

 

3.6

%