Private Wealth Partners LLC decreased its stake in shares of Equity Commonwealth (NYSE:EQC) by 1.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,400 shares of the real estate investment trust’s stock after selling 800 shares during the period. Private Wealth Partners LLC’s holdings in Equity Commonwealth were worth $1,468,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position 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 valued at $114,000 after buying an additional 3,539 shares during the last quarter. Creative Planning boosted its position in shares of 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 in the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of 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 in the last quarter. Chesley Taft & Associates LLC bought a new position in shares of Equity Commonwealth during the second quarter worth approximately $292,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Equity Commonwealth during the second quarter worth approximately $370,000. 92.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Equity Commonwealth (NYSE:EQC) traded down 0.13% on Monday, hitting $30.18. The stock had a trading volume of 1,234,716 shares. The firm’s 50-day moving average price is $30.69 and its 200 day moving average price is $29.19. The firm has a market cap of $3.79 billion, a P/E ratio of 22.52 and a beta of 0.33. Equity Commonwealth has a 12 month low of $25.23 and a 12 month high of $31.91.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The firm had revenue of $145.37 million for the quarter, compared to analyst estimates of $136.57 million. Equity Commonwealth had a net margin of 35.80% and a return on equity of 6.92%. The business’s quarterly revenue was down 28.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. Analysts anticipate that Equity Commonwealth will post $1.18 EPS for the current fiscal year.
EQC has been the topic of a number of recent research reports. Bank of America Corp. raised Equity Commonwealth from a “neutral” rating to a “buy” rating in a report on Monday, August 15th. Zacks Investment Research lowered Equity Commonwealth from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Royal Bank Of Canada upgraded Equity Commonwealth from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $28.00 to $32.00 in a research note on Friday. Citigroup Inc. increased their price target on Equity Commonwealth from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, September 1st. Finally, RBC Capital Markets upgraded Equity Commonwealth from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $28.00 to $32.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price 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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