About the Company
Operating as a real estate investment trust in the United States, Equity Residential is a publicly-traded company, registered with ticker symbol EQR under the New York Stock Exchange. In 2001, the company was also added to the S & P 500 Index following extravagant growth and performance in the US stock market. Further, in 2015, Equity Residential also overtook 181 positions among the top 500 large companies listed on the stock exchange.
This company traces its origin to 1969 when it was incorporated by real estate investor Sam Zell. It had received a large portfolio of properties from American billionaire Berry Sternlicht in the year 1993 by exchanging 20% stake of the company. Following this, in 1993, Equity Residential became a public company by putting out an initial offering. At this stage, it owned around 22,000 properties. Equity Residential started its acquisitions in 1997 with Wellsford Residential Property Trust for $620 million in stock and also Evans Withycombe Residential for $625 million in stock. Further in the year 1998, it acquired about 5774 apartments from Lincoln Property Company for $465 million alongside Merry Land, which held 34990 units in the southeast United States.
As of 2020, Equity operated in 12 locations across the United States including, Washington DC, Boston, San Francisco, Los Angeles, Seattle, South California, New York, Denver, San Diego, Orange County, Inland Empire and Stamford. As of 2018, the number of employees working under Equity Residential stands at 2700.
With its constant effort to improvise the business of large real estate companies and creating opportunities for future growth, Equity Residential received several accolades. It made its position in Glassdoor 2019 Best Places to Work and was also acclaimed the GRESB Real Estate Sector Leader in 2018. Further, it has also bagged the Employee Voice Award in 2018 for offering the right mix of employment as well as business solutions in the real estate sector.;