Chesley Taft & Associates LLC raised its position in shares of Equity Commonwealth (NYSE:EQC) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,760 shares of the real estate investment trust’s stock after buying an additional 1,100 shares during the period. Chesley Taft & Associates LLC’s holdings in Equity Commonwealth were worth $656,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. US Bancorp DE raised its position 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 valued at $294,000 after buying an additional 551 shares during the last quarter. First Trust Advisors LP raised its position in shares of Equity Commonwealth by 64.5% in the first quarter. First Trust Advisors LP now owns 498,730 shares of the real estate investment trust’s stock valued at $15,570,000 after buying an additional 195,541 shares during the last quarter. Heartland Advisors Inc. raised its position in shares of Equity Commonwealth by 51.5% in the first quarter. Heartland Advisors Inc. now owns 523,606 shares of the real estate investment trust’s stock valued at $16,347,000 after buying an additional 177,921 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in shares of Equity Commonwealth during the first quarter valued at approximately $739,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Equity Commonwealth during the first quarter valued at approximately $4,358,000. Hedge funds and other institutional investors own 93.19% of the company’s stock.
Shares of Equity Commonwealth (NYSE:EQC) traded down 0.74% on Tuesday, hitting $30.82. The stock had a trading volume of 459,937 shares. The firm has a 50 day moving average price of $31.64 and a 200 day moving average price of $31.41. Equity Commonwealth has a one year low of $28.04 and a one year high of $32.51. The company has a market capitalization of $3.82 billion, a P/E ratio of 35.75 and a beta of 0.08.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.05. Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The business had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $98.55 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business’s quarterly revenue was down 37.0% compared to the same quarter last year. On average, equities research analysts predict that Equity Commonwealth will post $0.19 earnings per share for the current fiscal year.
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Several analysts recently issued reports on EQC shares. Zacks Investment Research raised Equity Commonwealth from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Monday, May 8th. BidaskClub raised Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $33.00 price objective on shares of Equity Commonwealth in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $32.75.
Equity Commonwealth Company 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 December 31, 2016, the Company’s portfolio included 33 properties, one land parcel and one property taken out of a service, classified as a land parcel, with a combined 16.1 million square feet.
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