Resolution Capital Ltd decreased its holdings in Equity Commonwealth (NYSE:EQC) by 3.6% in the 1st quarter, HoldingsChannel reports. The firm owned 2,229,323 shares of the real estate investment trust’s stock after selling 83,390 shares during the quarter. Equity Commonwealth makes up 2.4% of Resolution Capital Ltd’s portfolio, making the stock its 18th largest holding. Resolution Capital Ltd’s holdings in Equity Commonwealth were worth $72,877,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. NumerixS Investment Technologies Inc bought a new position in shares of Equity Commonwealth in the fourth quarter worth $33,000. Enlightenment Research LLC acquired a new position in shares of Equity Commonwealth in the 4th quarter valued at $54,000. Redpoint Investment Management Pty Ltd acquired a new position in shares of Equity Commonwealth in the 4th quarter valued at $209,000. Legacy Financial Advisors Inc. acquired a new position in shares of Equity Commonwealth in the 4th quarter valued at $226,000. Finally, Franklin Resources Inc. acquired a new position in shares of Equity Commonwealth in the 3rd quarter valued at $238,000. 96.86% of the stock is owned by institutional investors.
Equity Commonwealth stock traded down $0.13 during mid-day trading on Wednesday, hitting $31.24. The company’s stock had a trading volume of 13,472 shares, compared to its average volume of 667,752. The company has a market cap of $3.81 billion, a P/E ratio of 45.36 and a beta of 0.33. The company has a current ratio of 43.37, a quick ratio of 43.37 and a debt-to-equity ratio of 0.09. Equity Commonwealth has a 52-week low of $28.48 and a 52-week high of $33.77.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $42.93 million during the quarter, compared to the consensus estimate of $44.62 million. Equity Commonwealth had a return on equity of 8.58% and a net margin of 138.47%. The business’s revenue for the quarter was down 40.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. On average, equities analysts forecast that Equity Commonwealth will post 0.47 earnings per share for the current fiscal year.
In related news, Director James Lloyd Lozier, Jr. sold 6,000 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $32.46, for a total value of $194,760.00. Following the completion of the sale, the director now directly owns 11,984 shares of the company’s stock, valued at approximately $389,000.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION WARNING: “Equity Commonwealth (EQC) Stake Lessened by Resolution Capital Ltd” was first reported by Stock Observer and is the property of of Stock Observer. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.thestockobserver.com/2019/04/17/equity-commonwealth-eqc-stake-lessened-by-resolution-capital-ltd.html.
Equity Commonwealth Profile
Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. As of December 31, 2018, EQC's portfolio comprised 10 properties and 5.1 million square feet.
Read More: What is the QQQ ETF?
Want to see what other hedge funds are holding EQC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Commonwealth (NYSE:EQC).
Receive News & Ratings for Equity Commonwealth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Commonwealth and related companies with MarketBeat.com's FREE daily email newsletter.