Preferred Stock Channel
Equity Residential | 6.48% Series N Cumulative Redeemable Preferred Share (EQR.PRN.CL)

This preferred is marked as having been called.
Prospectus excerpt:  We are offering for sale 6,000,000 depositary shares each representing a 1/10 fractional interest in a Series N cumulative redeemable preferred share, liquidation preference $250.00 per share (equivalent to $25.00 per depositary share) that we have deposited with EquiServe Trust Company, N.A. as depositary. We will receive all of the net proceeds from the sale of the depository shares. As a holder of a depositary share, you will be entitled to proportional rights and preferences as if you held 1/10 of a Series N preferred share.

Distributions on the Series N preferred shares represented by the depositary shares will be cumulative from the date of original issue and will be payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, commencing October 15, 2003, at the rate of 6.48% of the $250.00 liquidation preference per year, or $16.20 per Series N preferred share (equivalent to $1.62 per year per depositary share).

The Series N preferred shares represented by the depositary shares are not redeemable until June 19, 2008, except to preserve our status as a real estate investment trust. On or after June 19, 2008, we may redeem the shares at a redemption price of $250.00 per Series N preferred share (equivalent to $25.00 per depositary share), plus any accrued and unpaid distributions to, and including, the date of redemption. The Series N preferred shares and the depositary shares have no maturity date and will remain outstanding indefinitely unless redeemed.

Full Prospectus PDF », EQR Page »

Series:N
Alternate symbology:EQR-N.CL, EQR-PN.CL, EQRprN.CL
Redeemable?:Yes
Call Date:6/19/2008 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:6,000,000
Liquidation Preference:$25
Original Coupon:6.48%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
Equity Residential is a real estate investment trust focused on the acquisition, development and management of rental apartment properties. Co. is the general partner of, and owns an ownership interest in ERP Operating Limited Partnership (ERPOP). All of Co.'s property ownership, development and related business operations are conducted through ERPOP and those entities/subsidiaries owned or controlled by ERPOP. Co., directly or indirectly through investments in title holding entities, owns all or a portion of properties located in several states and the District of Columbia.

Preferred: EQR.PRN.CL


Open the EQR Information Page »
Name:  Equity Residential
Website:  www.equityapartments.com
Sector:  REITs
Number of ETFs Holding EQR:  97 (see which ones)
Total Market Value Held by ETFs:  $4,818,093,299.8
Total Market Capitalization:  $31,398,000,000
% of Market Cap. Held by ETFs:  15.35%

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