Utah Retirement Systems decreased its position in Equity Commonwealth (NYSE:EQC) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,793 shares of the real estate investment trust’s stock after selling 587 shares during the quarter. Utah Retirement Systems’ holdings in Equity Commonwealth were worth $974,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of EQC. Blair William & Co. IL acquired a new stake in Equity Commonwealth during the second quarter worth approximately $202,000. SG Americas Securities LLC increased its holdings in shares of Equity Commonwealth by 39.8% in the 1st quarter. SG Americas Securities LLC now owns 7,212 shares of the real estate investment trust’s stock valued at $225,000 after acquiring an additional 2,052 shares during the period. 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 acquiring an additional 433 shares during the period. 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 acquiring an additional 551 shares during the period. Finally, TLP Group LLC acquired a new position in shares of Equity Commonwealth in the 1st quarter valued at $297,000. 93.96% of the stock is currently owned by hedge funds and other institutional investors.
EQC has been the topic of a number of analyst reports. Stifel Nicolaus reiterated a “hold” rating and issued a $33.00 price objective on shares of Equity Commonwealth in a research report on Thursday. BidaskClub upgraded shares of Equity Commonwealth from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research lowered shares of Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.33.
Equity Commonwealth (EQC) opened at 30.06 on Friday. The stock’s 50 day moving average price is $30.69 and its 200 day moving average price is $31.31. Equity Commonwealth has a 1-year low of $28.04 and a 1-year high of $32.51. The firm has a market cap of $3.73 billion, a P/E ratio of 34.79 and a beta of 0.13.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Monday, July 24th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.05). Equity Commonwealth had a return on equity of 3.69% and a net margin of 28.50%. The company had revenue of $91.60 million for the quarter, compared to analyst estimates of $98.55 million. During the same period last year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was down 37.0% on a year-over-year basis. Equities research analysts predict that Equity Commonwealth will post $0.19 EPS for the current year.
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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 August 14, 2017, the Company’s portfolio included 20 properties and 11 million square feet.
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