Quantitative Systematic Strategies LLC bought a new position in Equity Commonwealth (NYSE:EQC) during the second quarter, Holdings Channel reports. The institutional investor bought 28,587 shares of the real estate investment trust’s stock, valued at approximately $825,000.
Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in Equity Commonwealth by 1,008.3% in the second quarter. Acadian Asset Management LLC now owns 3,890 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 3,539 shares during the period. Creative Planning increased its stake in Equity Commonwealth by 20.2% in the second quarter. Creative Planning now owns 5,959 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 1,002 shares during the period. BlackRock Japan Co. Ltd increased its stake in Equity Commonwealth by 1.9% in the first quarter. BlackRock Japan Co. Ltd now owns 6,736 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 124 shares during the period. Chesley Taft & Associates LLC purchased a new stake in Equity Commonwealth during the second quarter worth approximately $292,000. Finally, Fox Run Management L.L.C. purchased a new stake in Equity Commonwealth during the second quarter worth approximately $370,000. 92.54% of the stock is owned by hedge funds and other institutional investors.
Equity Commonwealth (NYSE:EQC) traded down 0.60% during mid-day trading on Tuesday, hitting $29.59. The stock had a trading volume of 291,833 shares. Equity Commonwealth has a 12-month low of $25.23 and a 12-month high of $31.91. The stock has a 50-day moving average price of $30.63 and a 200 day moving average price of $29.30. The firm has a market cap of $3.71 billion, a P/E ratio of 22.08 and a beta of 0.33.
Equity Commonwealth (NYSE:EQC) last released its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. Equity Commonwealth had a return on equity of 6.92% and a net margin of 35.80%. The business had revenue of $145.37 million for the quarter, compared to the consensus estimate of $136.57 million. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was down 28.6% on a year-over-year basis. Equities analysts anticipate that Equity Commonwealth will post $1.18 EPS for the current fiscal year.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised Equity Commonwealth from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a report on Monday, July 11th. RBC Capital Markets raised Equity Commonwealth from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $28.00 to $32.00 in a report on Friday, September 30th. Citigroup Inc. boosted their price target on Equity Commonwealth from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, September 1st. Royal Bank Of Canada raised Equity Commonwealth from an “underperform” rating to a “sector perform” rating and boosted their price target for the company from $28.00 to $32.00 in a report on Friday, September 30th. Finally, Bank of America Corp. raised Equity Commonwealth from a “neutral” rating to a “buy” rating in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.25.
Equity Commonwealth Company Profile
Equity Commonwealth is an internally managed and self-advised real estate investment trust (REIT). The Company is engaged in the ownership and operation of office buildings throughout the United States. It operates in central business district properties and suburban properties segment. The Company’s portfolio includes approximately 60 properties (over 130 buildings) with a combined of approximately 24 million square feet.
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