Schwab Charles Investment Management Inc. increased its stake in shares of Equity Residential (NYSE:EQR) by 10.3% during the second quarter, Holdings Channel reports. 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.’s holdings in Equity Residential were worth $201,514,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gulf International Bank UK Ltd raised its position in Equity Residential by 5.8% in the first quarter. Gulf International Bank UK Ltd now owns 115,440 shares of the real estate investment trust’s stock valued at $7,182,000 after buying an additional 6,300 shares during the period. National Pension Service raised its position in Equity Residential by 9.9% in the first quarter. National Pension Service now owns 316,953 shares of the real estate investment trust’s stock valued at $19,711,000 after buying an additional 28,475 shares during the period. Merriman Wealth Management LLC raised its position in Equity Residential by 1.7% in the first quarter. Merriman Wealth Management LLC now owns 60,858 shares of the real estate investment trust’s stock valued at $3,787,000 after buying an additional 1,035 shares during the period. DnB Asset Management AS raised its position in Equity Residential by 18.1% in the first quarter. DnB Asset Management AS now owns 38,537 shares of the real estate investment trust’s stock valued at $2,398,000 after buying an additional 5,900 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in Equity Residential by 5.7% in the first quarter. Duff & Phelps Investment Management Co. now owns 863,661 shares of the real estate investment trust’s stock valued at $53,737,000 after buying an additional 46,325 shares during the period. Institutional investors own 92.39% of the company’s stock.

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

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

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors 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 dividend on an annualized basis and a yield of 3.00%. Equity Residential’s dividend payout ratio is presently 90.58%.

COPYRIGHT VIOLATION NOTICE: “Schwab Charles Investment Management Inc. Has $201.51 Million Position in Equity Residential (NYSE:EQR)” was first posted by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/11/schwab-charles-investment-management-inc-has-201-51-million-position-in-equity-residential-nyseeqr.html.

Several equities analysts have issued reports on EQR shares. Zacks Investment Research upgraded Equity Residential from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Barclays PLC reiterated an “equal weight” rating and issued a $64.00 target price (up previously from $62.00) on shares of Equity Residential in a research note on Wednesday, April 19th. Evercore ISI lifted their target price on Equity Residential from $62.00 to $63.00 and gave the company an “underperform” rating in a research note on Wednesday, April 19th. Cantor Fitzgerald reiterated a “hold” rating and issued a $63.00 target price on shares of Equity Residential in a research note on Wednesday, April 26th. Finally, Argus set a $75.00 target price on Equity Residential and gave the company a “buy” rating in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Equity Residential has a consensus rating of “Hold” and a consensus price target of $67.92.

In related news, insider Michael L. Manelis sold 433 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $29,023.99. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark S. Shapiro sold 2,853 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $67.30, for a total value of $192,006.90. Following the transaction, the director now owns 2,573 shares in the company, valued at approximately $173,162.90. The disclosure for this sale can be found here. Insiders have sold a total of 59,124 shares of company stock worth $3,945,054 in the last 90 days. 3.79% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding EQR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Residential (NYSE:EQR).

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

Receive News & Ratings for Equity Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Residential and related companies with MarketBeat.com's FREE daily email newsletter.