Charles Schwab Investment Management Inc. Purchases 124,795 Shares of Equity Residential (NYSE:EQR)

Charles Schwab Investment Management Inc. lifted its position in shares of Equity Residential (NYSE:EQR) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,008,341 shares of the real estate investment trust’s stock after purchasing an additional 124,795 shares during the period. Charles Schwab Investment Management Inc. owned 1.06% of Equity Residential worth $298,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Maryland Capital Advisors Inc. purchased a new position in shares of Equity Residential in the 3rd quarter worth approximately $25,000. Assetmark Inc. increased its position in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 430 shares during the last quarter. UMB Bank n.a. boosted its stake in Equity Residential by 69.6% in the third quarter. UMB Bank n.a. now owns 475 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 195 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Equity Residential by 41.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 155 shares during the period. Finally, HHM Wealth Advisors LLC raised its position in shares of Equity Residential by 146.6% in the second quarter. HHM Wealth Advisors LLC now owns 550 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 327 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential Trading Up 1.0 %

EQR stock opened at $75.79 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.13 and a current ratio of 0.13. Equity Residential has a one year low of $56.05 and a one year high of $78.83. The company’s 50 day moving average price is $74.12 and its two-hundred day moving average price is $71.03. The company has a market capitalization of $28.76 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 6.06 and a beta of 0.90.

Equity Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th were paid a dividend of $0.675 per share. The ex-dividend date was Tuesday, September 24th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.56%. Equity Residential’s dividend payout ratio (DPR) is currently 110.66%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded Equity Residential from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $83.00 in a research note on Tuesday, September 10th. Piper Sandler increased their price objective on Equity Residential from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $69.00 to $77.00 in a report on Monday, August 26th. Finally, Wedbush increased their price target on shares of Equity Residential from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.25.

Equity Residential Company Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.