Equity Residential
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Equity Residential Property Trust (NYSE: EQR) is a member of the S&P 500, a publicly-traded real estate investment trust based in Chicago, IL. The company owns or has an interest in roughly 600 apartment communities in 25 states and the District of Columbia. The company also has condominium and corporate housing business lines.
The company has approximately 5,200 employees.
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[edit] History
The company was founded in 1969 by real-estate investor Sam Zell. He is also the current chairman.
It has been publicly-traded and has paid a cash dividend to shareholders every year since 1993. It was taken public by Michael Berman who worked for Merrill Lynch at the time ( he currently holds the company's CFO position). By 1996, it carried over US$1 billion in long-term debt, with shareholders equity of over US$610 million, and earnings of nearly US$45 million.[1]
[edit] Products
Equity Residential primarily develops, owns, and operates apartments. It also develops and sells condominiums, and operates a corporate housing division.
Its product portfolio includes:
- Equity Apartments
- Equity Condominiums
- Equity Corporate Housing
[edit] External links
[edit] References
- ^ Standard & Poor's Stock Guide, various issues
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