Equity Commonwealth (EQC) Trading 0.9% Higher
Shares of Equity Commonwealth (NYSE:EQC) traded up 0.9% on Tuesday . The stock traded as high as $29.64 and last traded at $29.59, with a volume of 293,142 shares trading hands. The stock had previously closed at $29.33.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Equity Commonwealth from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a report on Monday, July 11th. JMP Securities reaffirmed a “buy” rating on shares of Equity Commonwealth in a report on Monday, April 11th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.33.
The company’s 50 day moving average is $29.19 and its 200 day moving average is $27.88. The company has a market capitalization of $3.73 billion and a price-to-earnings ratio of 36.29.
Equity Commonwealth (NYSE:EQC) last issued its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The company earned $137.14 million during the quarter, compared to analyst estimates of $136.40 million. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s quarterly revenue was down 35.6% on a year-over-year basis. On average, analysts anticipate that Equity Commonwealth will post $1.13 EPS for the current year.
Other large investors have added to or reduced their stakes in the company. Employees Retirement System of Texas acquired a new stake in Equity Commonwealth during the fourth quarter worth $1,428,000. Waterfront Capital Partners LLC boosted its stake in Equity Commonwealth by 5.1% in the fourth quarter. Waterfront Capital Partners LLC now owns 1,082,696 shares of the real estate investment trust’s stock worth $30,023,000 after buying an additional 52,690 shares in the last quarter. Green Street Investors LLC boosted its stake in 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. IronBridge Capital Management LP acquired a new stake in Equity Commonwealth during the fourth quarter worth $3,529,000. Finally, Stevens Capital Management LP boosted its stake in 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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