Equity Commonwealth (NYSE:EQC) has received a consensus recommendation of “Buy” from the five analysts that are currently covering the company. Two equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $33.00.
EQC has been the subject of several research reports. Zacks Investment Research lowered Equity Commonwealth from a “hold” rating to a “sell” rating in a research note on Tuesday, January 3rd. TheStreet raised Equity Commonwealth from a “c+” rating to a “b-” rating in a research note on Monday, January 23rd.
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Equity Commonwealth (NYSE:EQC) traded down 0.74% on Monday, reaching $32.01. 391,522 shares of the company’s stock traded hands. Equity Commonwealth has a 12 month low of $26.92 and a 12 month high of $32.45. The firm’s 50-day moving average is $31.34 and its 200 day moving average is $30.41. The firm has a market cap of $3.97 billion, a PE ratio of 19.76 and a beta of 0.15.
Equity Commonwealth (NYSE:EQC) last issued its earnings results on Wednesday, February 15th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Equity Commonwealth had a return on equity of 8.62% and a net margin of 49.21%. Equities analysts predict that Equity Commonwealth will post $0.19 EPS for the current year.
Hedge funds have recently modified their holdings of the company. First Quadrant L P CA raised its stake in shares of Equity Commonwealth by 49.9% in the third quarter. First Quadrant L P CA now owns 123,074 shares of the real estate investment trust’s stock valued at $3,719,000 after buying an additional 40,974 shares in the last quarter. Bank of Montreal Can raised its stake in Equity Commonwealth by 37.2% in the third quarter. Bank of Montreal Can now owns 543,420 shares of the real estate investment trust’s stock worth $16,422,000 after buying an additional 147,248 shares during the period. Acadian Asset Management LLC raised its stake in Equity Commonwealth by 1,557.7% in the third quarter. Acadian Asset Management LLC now owns 64,486 shares of the real estate investment trust’s stock worth $1,949,000 after buying an additional 60,596 shares during the period. Nationwide Fund Advisors raised its stake in Equity Commonwealth by 1.7% in the third quarter. Nationwide Fund Advisors now owns 283,483 shares of the real estate investment trust’s stock worth $8,567,000 after buying an additional 4,808 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in Equity Commonwealth by 30.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 150,000 shares of the real estate investment trust’s stock worth $4,534,000 after buying an additional 35,000 shares during the period. 91.65% of the stock is owned by institutional investors and hedge funds.
About Equity Commonwealth
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 December 31, 2016, the Company’s portfolio included 33 properties, one land parcel and one property taken out of a service, classified as a land parcel, with a combined 16.1 million square feet.
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