Macquarie Group Ltd. reduced its position in Equity Commonwealth (NYSE:EQC) by 40.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,478,978 shares of the real estate investment trust’s stock after selling 991,141 shares during the period. Macquarie Group Ltd. owned about 1.19% of Equity Commonwealth worth $46,736,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blair William & Co. IL bought a new stake in Equity Commonwealth during the 2nd quarter valued at approximately $202,000. SG Americas Securities LLC boosted its stake in Equity Commonwealth by 39.8% during 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 purchasing an additional 2,052 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Equity Commonwealth by 6.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,232 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 463 shares during the period. US Bancorp DE lifted its position 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 worth $294,000 after acquiring an additional 551 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Equity Commonwealth in the 2nd quarter worth approximately $304,000. Institutional investors own 94.08% of the company’s stock.
Equity Commonwealth (NYSE:EQC) traded down 0.43% on Tuesday, hitting $30.16. The stock had a trading volume of 97,537 shares. Equity Commonwealth has a 12-month low of $28.04 and a 12-month high of $32.51. The company has a market capitalization of $3.74 billion, a PE ratio of 34.91 and a beta of 0.14. The company has a 50 day moving average of $30.53 and a 200 day moving average of $31.22.
Equity Commonwealth (NYSE:EQC) last announced its 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 period in the prior year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was down 37.0% on a year-over-year basis. On average, equities analysts expect that Equity Commonwealth will post $0.19 earnings per share for the current year.
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A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Equity Commonwealth from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. Stifel Nicolaus reaffirmed a “hold” rating and set a $33.00 price target on shares of Equity Commonwealth in a report on Thursday, September 21st. Finally, BidaskClub cut Equity Commonwealth from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th.
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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