Prudential PLC acquired a new position in shares of Equity Commonwealth (NYSE:EQC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,400 shares of the real estate investment trust’s stock, valued at approximately $329,000.
Several other hedge funds also recently made changes to their positions in EQC. Blair William & Co. IL purchased a new position in shares of Equity Commonwealth during the 2nd quarter worth about $202,000. SG Americas Securities LLC lifted its holdings in shares of 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 worth $225,000 after acquiring an additional 2,052 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Equity Commonwealth by 6.0% during 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 holdings in shares of Equity Commonwealth by 6.2% during 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 purchased a new position in shares of Equity Commonwealth during the 2nd quarter worth about $304,000. Institutional investors and hedge funds own 94.08% of the company’s stock.
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A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. Stifel Nicolaus reissued a “hold” rating and set a $33.00 target price on shares of Equity Commonwealth in a research report on Thursday, September 21st. Finally, BidaskClub downgraded shares of Equity Commonwealth from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th.
Shares of Equity Commonwealth (EQC) opened at 30.60 on Friday. The firm has a market cap of $3.80 billion, a P/E ratio of 35.42 and a beta of 0.14. The company’s 50-day moving average is $30.53 and its 200-day moving average is $31.23. Equity Commonwealth has a 52-week low of $28.04 and a 52-week high of $32.51.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.05). The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $98.55 million. Equity Commonwealth had a net margin of 28.50% and a return on equity of 3.69%. The firm’s quarterly revenue was down 37.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Equity Commonwealth will post $0.19 earnings per share for the current fiscal year.
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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