Rhumbline Advisers lowered its position in shares of Equity Commonwealth (NYSE:EQC) by 7.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 151,605 shares of the real estate investment trust’s stock after selling 12,291 shares during the period. Rhumbline Advisers owned 0.12% of Equity Commonwealth worth $4,791,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in Equity Commonwealth by 64.5% in the 1st quarter. First Trust Advisors LP now owns 498,730 shares of the real estate investment trust’s stock valued at $15,570,000 after acquiring an additional 195,541 shares during the last quarter. US Bancorp DE increased its holdings in shares of Equity Commonwealth by 6.2% in the 1st quarter. US Bancorp DE now owns 9,425 shares of the real estate investment trust’s stock valued at $294,000 after purchasing an additional 551 shares during the period. Comerica Bank acquired a new position in shares of Equity Commonwealth in the 1st quarter valued at about $6,702,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Equity Commonwealth by 5.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,769 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 433 shares during the period. Finally, Swiss National Bank increased its holdings in Equity Commonwealth by 0.6% in the first quarter. Swiss National Bank now owns 197,300 shares of the real estate investment trust’s stock worth $6,160,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.
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A number of equities analysts recently commented on the company. Stifel Nicolaus restated a “hold” rating and issued a $33.00 price objective on shares of Equity Commonwealth in a report on Friday, July 28th. Zacks Investment Research downgraded Equity Commonwealth from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, BidaskClub downgraded Equity Commonwealth from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company has an average rating of “Hold” and an average target price of $33.33.
Equity Commonwealth (EQC) traded up 0.16% during midday trading on Friday, hitting $30.75. The stock had a trading volume of 820,245 shares. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The firm has a 50-day moving average price of $30.76 and a 200-day moving average price of $31.32. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 35.67 and a beta of 0.13.
Equity Commonwealth (NYSE:EQC) last posted its earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.05). The business had revenue of $91.60 million for the quarter, compared to analyst estimates of $98.55 million. Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. The firm’s revenue was down 37.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, equities research analysts anticipate that Equity Commonwealth will post $0.19 earnings per share for the current year.
Equity Commonwealth Profile
Equity Commonwealth is an internally managed and self-advised real estate investment trust. The Company is engaged in the ownership and operation primarily of office buildings across the United States. The Company conducts its activities primarily through EQC Operating Trust (the Operating Trust). As of August 14, 2017, the Company’s portfolio included 20 properties and 11 million square feet.
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