Equity Commonwealth (EQC) Reaches New 52-Week High at $29.80
Equity Commonwealth (NYSE:EQC) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $29.80 and last traded at $29.69, with a volume of 560,167 shares trading hands. The stock had previously closed at $29.60.
A number of research analysts have issued reports on EQC shares. JMP Securities restated a “buy” rating on shares of Equity Commonwealth in a research note on Monday, April 11th. Zacks Investment Research lowered shares of Equity Commonwealth from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.00.
The firm has a market cap of $3.68 billion and a PE ratio of 35.85. The firm has a 50 day moving average price of $28.93 and a 200-day moving average price of $27.79.
Equity Commonwealth (NYSE:EQC) last announced its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. During the same quarter last year, the firm posted $0.55 EPS. The business earned $137.14 million during the quarter, compared to analyst estimates of $136.40 million. The company’s revenue for the quarter was down 35.6% on a year-over-year basis. Equities research analysts forecast that Equity Commonwealth will post $1.12 EPS for the current fiscal year.
A number of hedge funds and institutional investors have recently modified their holdings of the company. Shell Asset Management Co. purchased a new position in shares of Equity Commonwealth during the fourth quarter worth about $1,120,000. ProShare Advisors LLC increased its position in shares of Equity Commonwealth by 9.0% in the fourth quarter. ProShare Advisors LLC now owns 45,652 shares of the real estate investment trust’s stock worth $1,266,000 after buying an additional 3,756 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Equity Commonwealth by 267.1% in the fourth quarter. Nationwide Fund Advisors now owns 46,693 shares of the real estate investment trust’s stock worth $1,295,000 after buying an additional 33,975 shares in the last quarter. Green Street Investors LLC increased its position in shares of Equity Commonwealth by 13.4% in the fourth quarter. Green Street Investors LLC now owns 65,100 shares of the real estate investment trust’s stock worth $1,805,000 after buying an additional 7,700 shares in the last quarter. Finally, Stevens Capital Management LP increased its position in shares of Equity Commonwealth by 339.3% in the fourth quarter. Stevens Capital Management LP now owns 67,077 shares of the real estate investment trust’s stock worth $1,860,000 after buying an additional 51,809 shares in the last quarter.
Equity Commonwealth (EQC) is an internally managed and self-advised real estate investment trust (REIT). The Company is engaged in the ownership and operation primarily of office buildings in central business district (CBD) and suburban locations throughout the United States. The Company’s two reportable segments include CBD properties and suburban properties.
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