Prudential Financial Inc. Trims Holdings in Equity Commonwealth (EQC)

Prudential Financial Inc. trimmed its position in shares of Equity Commonwealth (NYSE:EQC) by 47.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,409 shares of the real estate investment trust’s stock after selling 18,800 shares during the period. Prudential Financial Inc.’s holdings in Equity Commonwealth were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in Equity Commonwealth by 0.8% during the first quarter. Principal Financial Group Inc. now owns 21,414 shares of the real estate investment trust’s stock valued at $669,000 after purchasing an additional 161 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Equity Commonwealth by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 9,887 shares of the real estate investment trust’s stock worth $312,000 after acquiring an additional 310 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of Equity Commonwealth by 1.1% in the first quarter. Thrivent Financial For Lutherans now owns 37,100 shares of the real estate investment trust’s stock worth $1,158,000 after acquiring an additional 400 shares during the period. Nepsis Capital Management Inc. boosted its holdings in shares of Equity Commonwealth by 0.9% in the second quarter. Nepsis Capital Management Inc. now owns 51,007 shares of the real estate investment trust’s stock worth $1,612,000 after acquiring an additional 436 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Equity Commonwealth by 6.2% in the first quarter. US Bancorp DE now owns 9,425 shares of the real estate investment trust’s stock worth $294,000 after acquiring an additional 551 shares during the period. 94.08% of the stock is owned by institutional investors and hedge funds.

WARNING: “Prudential Financial Inc. Trims Holdings in Equity Commonwealth (EQC)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/09/prudential-financial-inc-trims-holdings-in-equity-commonwealth-eqc.html.

A number of equities analysts have recently commented on EQC shares. Zacks Investment Research lowered Equity Commonwealth from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $33.00 price target on shares of Equity Commonwealth in a report on Thursday, September 21st. Finally, BidaskClub lowered Equity Commonwealth from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th.

Equity Commonwealth (NYSE:EQC) opened at 30.50 on Monday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 35.30 and a beta of 0.14. Equity Commonwealth has a 12-month low of $28.04 and a 12-month high of $32.51. The stock has a 50 day moving average price of $30.51 and a 200-day moving average price of $31.25.

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A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in Equity Commonwealth by 0.8% during the first quarter. Principal Financial Group Inc. now owns 21,414 shares of the real estate investment trust’s stock valued at $669,000 after purchasing an additional 161 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Equity Commonwealth by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 9,887 shares of the real estate investment trust’s stock worth $312,000 after acquiring an additional 310 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of Equity Commonwealth by 1.1% in the first quarter. Thrivent Financial For Lutherans now owns 37,100 shares of the real estate investment trust’s stock worth $1,158,000 after acquiring an additional 400 shares during the period. Nepsis Capital Management Inc. boosted its holdings in shares of Equity Commonwealth by 0.9% in the second quarter. Nepsis Capital Management Inc. now owns 51,007 shares of the real estate investment trust’s stock worth $1,612,000 after acquiring an additional 436 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Equity Commonwealth by 6.2% in the first quarter. US Bancorp DE now owns 9,425 shares of the real estate investment trust’s stock worth $294,000 after acquiring an additional 551 shares during the period. 94.08% of the stock is owned by institutional investors and hedge funds.

WARNING: “Prudential Financial Inc. Trims Holdings in Equity Commonwealth (EQC)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/09/prudential-financial-inc-trims-holdings-in-equity-commonwealth-eqc.html.

A number of equities analysts have recently commented on EQC shares. Zacks Investment Research lowered Equity Commonwealth from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $33.00 price target on shares of Equity Commonwealth in a report on Thursday, September 21st. Finally, BidaskClub lowered Equity Commonwealth from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th.

Equity Commonwealth (NYSE:EQC) opened at 30.50 on Monday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 35.30 and a beta of 0.14. Equity Commonwealth has a 12-month low of $28.04 and a 12-month high of $32.51. The stock has a 50 day moving average price of $30.51 and a 200-day moving average price of $31.25.

Equity Commonwealth (NYSE:EQC) last posted its quarterly earnings data on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.05). The company had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $98.55 million. Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. The company’s revenue for the quarter was down 37.0% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. Equities analysts predict that Equity Commonwealth will post $0.19 EPS for the current fiscal year.

About Equity Commonwealth

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.

Institutional Ownership by Quarter for Equity Commonwealth (NYSE:EQC)

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