Schwab Charles Investment Management Inc. Acquires 286,118 Shares of Equity Residential (NYSE:EQR)

Schwab Charles Investment Management Inc. raised its position in Equity Residential (NYSE:EQR) by 10.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,061,120 shares of the real estate investment trust’s stock after buying an additional 286,118 shares during the period. Schwab Charles Investment Management Inc. owned about 0.83% of Equity Residential worth $201,514,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in EQR. Wetherby Asset Management Inc. raised its stake in shares of Equity Residential by 6.9% in the second quarter. Wetherby Asset Management Inc. now owns 4,050 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 261 shares during the last quarter. HGI Capital Management LLC raised its stake in shares of Equity Residential by 299.9% in the second quarter. HGI Capital Management LLC now owns 99,089 shares of the real estate investment trust’s stock worth $6,523,000 after buying an additional 74,313 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Equity Residential by 42.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,283,359 shares of the real estate investment trust’s stock worth $84,484,000 after buying an additional 384,800 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Equity Residential by 15.3% in the second quarter. Global X Management Co. LLC now owns 7,346 shares of the real estate investment trust’s stock worth $484,000 after buying an additional 973 shares during the last quarter. Finally, Advisor Partners LLC raised its stake in shares of Equity Residential by 20.7% in the second quarter. Advisor Partners LLC now owns 7,334 shares of the real estate investment trust’s stock worth $483,000 after buying an additional 1,258 shares during the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Equity Residential (EQR) opened at 67.08 on Friday. The firm’s 50-day moving average is $66.58 and its 200-day moving average is $64.48. Equity Residential has a 12 month low of $58.28 and a 12 month high of $68.83. The stock has a market capitalization of $24.64 billion, a P/E ratio of 30.01 and a beta of 0.34.

Equity Residential (NYSE:EQR) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $612.48 million for the quarter, compared to analyst estimates of $609.37 million. Equity Residential had a return on equity of 7.92% and a net margin of 33.99%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. On average, equities analysts expect that Equity Residential will post $1.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 26th were paid a dividend of $0.5038 per share. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $2.02 annualized dividend and a dividend yield of 3.00%. Equity Residential’s dividend payout ratio is currently 90.58%.

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A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Equity Residential from a “buy” rating to a “hold” rating in a report on Wednesday. TheStreet raised shares of Equity Residential from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Barclays PLC lifted their target price on shares of Equity Residential from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Equity Residential in a research note on Monday, July 31st. Finally, Zacks Investment Research raised shares of Equity Residential from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $67.92.

In other news, insider Alan W. George sold 28,157 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $65.93, for a total transaction of $1,856,391.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael L. Manelis sold 1,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $65.63, for a total value of $65,630.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,124 shares of company stock worth $3,945,054. Insiders own 3.79% of the company’s stock.

Equity Residential Company Profile

Equity Residential is a real estate investment trust. The Company’s primary business is the acquisition, development and management of multifamily residential properties. Its segments include Boston, New York, Washington DC, Southern California, San Francisco, Seattle and Other Markets. Southern California includes Los Angeles, San Diego and Orange County.

Institutional Ownership by Quarter for Equity Residential (NYSE:EQR)

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