Equity Residential (EQR) is an American company that focuses on developing, managing, and acquiring apartment complexes across the US.
The company is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘EQR’.
It owns approximately 400 properties in New York, Boston, San Francisco, Southern California, South Florida, DC, Denver, and Seattle.
Equity Residential also sells condominiums and has a corporate housing division.
EQRs corporate headquarters are in Chicago, Illinois and it also has property management offices in each of its markets.
It focuses on “balancing occupancy and rental rates to maximize our revenue while exercising tight cost control to generate the highest possible return to our shareholders.”
The history of the company traces back to the 1960s, when Sam Zell and Bob Lurie (two students at the University of Michigan) started managing student apartment buildings.
Equity Residential went public on the NYSE in 1993 and it became the first apartment company in the S&P 500 in 2001.
Equity Residential – Live Stock Market Data
Equity Residential – Overview
- President and CEO: David J. Neithercut
- CFO: Mark J. Parrell
- Type: Public
- Industry: Residential
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: EQR
- S&P 500 Component
- Revenue: $2.387 billion USD (2013)
- Net income: $1.905 billion USD (2013)
- Diluted earnings per share: $5.16 USD (2013)
- Founded: 1968
- Employees: 3,600 (2013)
- Corporate headquarters: Two North Riverside Plaza, Chicago, Illinois 60606, USA
- Corporate contact number: (312) 474-1300
- Investor relations email address: [email protected]
- Website: http://www.equityapartments.com/
Equity Residential – Financial Results
| Operating data (in $ thousands) | 2013 | 2012 |
| Total revenues | $2,387,702 | $1,747,502 |
| Total expenses | $1,875,414 | $1,233,380 |
| Operating income | $512,288 | $514,122 |
| (Loss) income from continuing operations | $(168,174) | $160,298 |
| Income from discontinued operations, net | $2,073,527 | $720,906 |
| Net income | $1,905,353 | $881,204 |
| Net income available to Common Shares | $1,826,468 | $826,212 |
| Comprehensive income | $1,943,339 | $884,774 |
| Balance sheet data (in $ millions) | ||
| Total assets | $22,834,545 | $17,201,000 |
| Total liabilities | $11,626,205 | $9,275,521 |
| Total shareholders’ equity | $10,507,201 | $7,289,813 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $868,916 | $1,046,155 |
| Net cash used in investing activities | $(6,977) | $(261,168) |
| Net cash used in financing activities | $(1,420,995) | $(556,318) |
| Cash and cash equivalents at end of period | $53,534 | $612,590 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $5.16 | $2.73 |
| Diluted earnings (loss) per common share | $5.16 | $2.70 |
Source: “Equity Residential 2013 Annual Report”